Abbey Mortgage Bank Forecasts N0.366bn Profit for Q1 2026

Abbey Mortgage Bank Forecasts N0.366bn Profit for Q1 2026

Abbey Mortgage Bank Plc is targeting N0.366 billion profit after tax for the first quarter of financial year 2026, details from the company’s earnings forecast revealed.

In the stock market on Friday, the market value of Abbey Mortgage Bank Plc’s 10.153 billion outstanding shares was valued at N59.400 billion, having traded flat at N5.85 per unit.

Amidst plan to switch to commercial bank license, the mortgage lender anticipates N1.031 billion net revenue generation from interest earnings assets.

The net revenue reflects the expectation that the company’s interest income will berth at N3.028 billion in the first three months of operations in 2026, balanced against N1.996 billion interest expense projection. 

The financial institution anticipates zero impairment charges on fair value assets with no inflow or outflow as regards exceptional items. Meanwhile, Abbey expected N31 million as other income with a pre-tax profit expectation of N388 million in Q1 – 2026.

With N22.27 million tax expense provision, Abbey Mortgage Bank set its profit target for Q at N366.236 million.  It, however, anticipates cash flows at the end of the period to settle at N21.187 billion.#Abbey Mortgage Bank Forecasts N0.366bn Profit for Q1 2026#

GCR Assigns Abbey Mortgage Bank BBB, A3 Ratings, Outlook Stable