AG Mortgage Bank Plc grew its total assets by 48 percent to N33.04 billion in 2025 from N22.37 billion a year earlier, as the mortgage lender expanded its loan portfolio and strengthened its funding capacity.
Rev. Abel Amadi (PhD), chairman of the Board of Directors at AG Mortgage Bank, said the bank will continue to pursue growth while maintaining strong governance and risk management as it positions itself to benefit from Nigeria’s housing-finance needs.
‘The quality and sustainability of the Bank’s growth are as important as the growth itself,’ Amadi said in his address to shareholders at the bank’s 2026 annual general meeting.
According to the bank’s 2025 annual report, loans and advances rose 44 percent to N22.71 billion from N15.82 billion, while cash and cash equivalents surged 195 percent to N6.96 billion from N2.36 billion.
Customer deposits increased 14 percent to N9.48 billion from N8.31 billion, while shareholders’ funds rose 17 percent to N7.16 billion from N6.10 billion.
Total liabilities, however, increased 59 percent to N25.88 billion from N16.26 billion.
Amadi said the bank had continued to strengthen and diversify its funding sources during the year, highlighting the importance of appropriately structured, long-term funding to mortgage banking.
‘The Board remains committed to strengthening AG Mortgage Bank as an institution capable of delivering sustainable value to shareholders while fulfilling its important role in expanding access to housing finance in Nigeria,’ he said.
The chairman explained that the bank’s growth strategy was increasingly focused on building ‘a larger, stronger, technology-driven and customer-centric institution’ capable of serving Nigeria’s housing-finance opportunity effectively and sustainably.
The balance-sheet expansion came alongside stronger earnings, with gross earnings rising 42 percent to N4.93 billion in 2025 from N3.47 billion.
Profit Before Tax (PBT) increased 89 percent to N1.38 billion, while profit after tax rose 130 percent to N1.06 billion from N458.7 million.
Ngozi Anyogu, managing director/CEO of AG Mortgage Bank, attributed the performance to improved business volumes, stronger income generation and continued attention to the quality of earnings, despite elevated funding costs, inflation and reduced household purchasing power.
‘Despite the operating challenges, the bank delivered a significantly improved financial performance,’ Anyogu said.
He emphasised that the bank’s response to the challenging environment was to focus on ‘disciplined growth, strengthening our balance sheet, expanding funding capacity and improving the Bank’s ability to serve its customers.’
‘In marking the bank’s 21st anniversary, we released the revamped website which is poised to scale the operations of AG Mortgage Bank,’ he added.
Anyogu said the growth in the loan portfolio demonstrated the bank’s increasing capacity to deploy funding into mortgage and other appropriate lending opportunities while maintaining credit discipline and portfolio quality.
Looking ahead, the bank is committed to deepening its core mortgage business, expand housing-finance opportunities, diversify its funding base, improve customer experience and use technology and strategic partnerships to extend its reach.