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
AG Mortgage Bank Plc has reported a significant expansion in its assets, reaching N33.04 billion in 2025, a 48 percent increase from N22.37 billion the previous year. This growth is attributed to an expansion of the mortgage and funding operations. The bank's Chairman, Dr. Abel Amadi, stated that the bank will maintain its growth trajectory while prioritizing strong governance and risk management.
The bank's loans and advances rose by 44 percent to N22.71 billion, while cash and cash equivalents surged 195 percent to N6.96 billion. Customer deposits increased by 14 percent to N9.48 billion, and shareholders' funds rose by 17 percent to N7.16 billion. However, total liabilities increased by 59 percent to N25.88 billion.
Dr. Amadi emphasized the importance of strengthening and diversifying funding sources, highlighting the significance of long-term funding in mortgage banking. The bank's Managing Director/CEO, Mr. Ngozi Anyogu, noted that the performance was driven by improved business volumes, stronger income generation, and quality earnings, despite challenges such as elevated funding costs, inflation, and reduced household purchasing power.
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