Alert Group PBT jumps 128% as deposits surge 475% to N94.82 billion
Alert Group has more than doubled its profit before tax to N1.31 billion in the first half of 2026, representing a 127.8% year-on-year increase, as rapid growth in deposits and loans drove a sharp expansion in its balance sheet. The post Alert Group PBT jumps 128% as deposits surge 475% to N94.82 billion appeared first on Nairametrics .
In the first half of 2026, Alert Group experienced a remarkable 128% surge in profit before tax (PBT) to N1.31 billion, nearly doubling its earnings from the previous year. The financial services group attributed this impressive growth to rapid increases in deposits and loans, which significantly expanded its balance sheet. The company's half-year unaudited financial statement revealed that its total assets skyrocketed by 301.2% to N118.35 billion.
Alert Microfinance Bank (Alert MFB), a crucial component of the group, also saw a 52.4% rise in both PBT and PAT, reaching N725.26 million and N478.67 million respectively. The most striking growth, however, came from the balance sheet, where deposits surged an astounding 474.7% to N94.82 billion, while loans and advances increased 224.2% to N80.41 billion.
CEO Olanrewaju Kazeem attributed the Group's expansion to a deliberate strategy to provide financial services to more Nigerians, particularly the underbanked and unbanked. He highlighted the Group's assets, valued at about N120 billion, and Alert MFB's assets, approximately N50 billion, as significant progress from just N2.5 billion three years ago.
The expansion has been fueled by the bank's national license, growing public acceptance of the brand, and a board-approved strategy focused on deepening financial inclusion in underserved communities.
Despite the rapid growth, the Group faces challenges due to rising inflation, exchange rate depreciation, and increased working capital needs for businesses reliant on imported goods. The microfinance banking industry also grapples with high interest rates, rising personnel costs, skilled professional shortages, and multiple taxation. However, the bank maintains a non-performing loan ratio below 4%.
During the period, Alert Group's performance was driven by aggressive deposit mobilization and a sharp expansion in loans and advances. This resulted in deposits exceeding loans by approximately N14.4 billion, compared to the previous year where loans surpassed deposits. Consequently, the Group's loans-to-deposits ratio improved to around 84.8% from 150.3% in H1 2025.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
