File: Abbey Mortgage Bank
Abbey Mortgage Bank Plc has projected a positive financial trajectory for the third quarter of 2026, forecasting gross earnings of N8.06bn for the period ending 30 September 2026.
The primary mortgage institution submitted its forecast profit and loss account and cash flow information to the Nigerian Exchange last week. The document, signed by the financial controller, Oluwatomi Olurinola, outlines strong expectations for its core retail and lending operations alongside aggressive asset management strategies.
According to the corporate filing, the bank’s gross earnings of N8.06bn will be heavily powered by its lending pipeline, with interest income expected to hit N7.58bn. Conversely, the bank is bracing for an intense high-interest-rate ecosystem, projecting an interest expense of N6.05bn, which leaves its estimated net interest income at N1.53bn.
Supported by N477.65m expected from other non-interest income streams, Abbey Mortgage Bank aims to drive its net operating income to N2.01bn. After factoring in a projected operating expense of N1.04bn, the mortgage lender is positioning itself to clear N969.53m in profit before tax. Related News NGX gains N830bn as Airtel Africa leads market rally Army chief asks banks to disrupt terror financing Cut off terror financiers, COAS urges banks
