AG Mortgage Bank Grows Assets by 48% to N33bn

Nume Ekeghe

AG Mortgage Bank Plc has said that it grew its total assets by 48 per cent to N33.04 billion in 2025, up from N22.37 billion recorded a year earlier, reflecting the lender’s continued expansion of its mortgage and funding operations.

The growth came as the mortgage bank expanded its loan portfolio and strengthened its funding capacity amid rising demand for housing finance.

The Chairman of the Board of Directors, AG Mortgage Bank, Dr. Abel Amadi, said the bank would sustain its growth trajectory while maintaining strong governance and risk management.

He said: “The quality and sustainability of the Bank’s growth are as important as the growth itself,” Dr. 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 per cent 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 per cent 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.

Managing Director/CEO of the Bank, Mr. Ngozi Anyogu,  noted that  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 added.