Abbey Bank Plc reported a pre-tax profit of N3.23 billion for the 9 months ended September 30, 2026, representing a rise of 112.63% from N1.52 billion within the corresponding interval of 2025.
In the third quarter, pre-tax profit surged by 126.34% to N1.72 billion from N760.64 million in Q2 2026 and rose by 157.02% from N669.84 million in Q3 2025, beating the financial institution’s forecast of N969.53 million by 77.58%.
The earnings beat was supported by stronger-than-expected curiosity earnings, whereas Q3 profit after tax of N1.68 billion exceeded the forecast of N727.14 million by 130.42%.
For the nine-month interval, gross earnings elevated by 120.31% to N30.15 billion, whereas profit after tax rose by 55.89% to N2.26 billion.
The nine-month pre-tax profit additionally surpassed the N3.13 billion recorded for the whole 2025 monetary 12 months, as Abbey Bank advances its transition from a major mortgage financial institution to a regional business financial institution.
The efficiency comes as Abbey Bank transitions from a major mortgage financial institution to a regional business financial institution, following ultimate approval from the Central Bank of Nigeria on June 5, 2026.
Key Highlights
The following figures cowl the 9 months ended September 2026, with year-on-year comparisons, apart from steadiness sheet figures, that are in contrast with December 2025.
- Gross earnings: N30.15 billion (Up 120.31% YoY from N13.69 billion).
- Interest earnings: N28.83 billion (Up 120.28% YoY from N13.09 billion).
- Interest expense: N22.28 billion (Up 122.98% YoY from N9.99 billion).
- Net curiosity earnings: N6.56 billion (Up 111.60% YoY from N3.10 billion).
- Fees and fee earnings: N544.28 million (Up 30.00% YoY from N418.67 million).
- Total working earnings: N7.88 billion (Up 113.10% YoY from N3.70 billion).
- Operating bills: N4.65 billion (Up 113.43% YoY from N2.18 billion).
- Earnings per share: 8.22 kobo (Down 56.89% YoY from 19.06 kobo).
- Total property: N375.73 billion (Up 126.58% from N165.83 billion in December 2025).
- Customer deposits: N263.81 billion (Up 231.29% from N79.63 billion).
- Loans and advances: N11.08 billion (Up 13.96% from N9.72 billion).
- Shareholders’ fairness: N73.76 billion (Up 583.75% from N10.79 billion).
Driving the numbers
Abbey Bank’s nine-month earnings progress was largely pushed by greater curiosity earnings, notably from short-term funds and funding securities.
- Interest earnings elevated by 120.28% to N28.83 billion, accounting for about 95.62% of gross earnings in the course of the interval.
According to the notes to the monetary statements, curiosity earnings from short-term funds reached N24.53 billion, in contrast with N9.51 billion within the corresponding interval of 2025. This represents 85.08% of whole curiosity earnings.
- Interest earnings from funding securities at amortised value elevated to N2.61 billion from N1.90 billion, whereas curiosity earnings from loans and advances declined barely to N1.69 billion from N1.71 billion.
The figures present that Abbey Bank’s earnings had been predominantly generated from short-term placements and funding securities. However, the expansion in curiosity earnings was accompanied by a major improve in funding prices.
- Interest bills rose by 122.98% to N22.28 billion from N9.99 billion, largely reflecting the upper value of buyer deposits.
- Interest bills on buyer deposits reached N21.84 billion, in contrast with N8.10 billion within the corresponding interval of 2025, accounting for about 98.07% of whole curiosity bills.
Despite these prices, internet curiosity earnings elevated by 111.60% to N6.56 billion from N3.10 billion.
Non-interest earnings additionally contributed to earnings progress. Fees and fee earnings elevated by 30.00% to N544.28 million, whereas different working earnings rose to N774.90 million from N178.54 million.
- The financial institution recorded N231.76 million in internet beneficial properties on monetary property measured at honest worth via profit or loss in the course of the interval.
On the working value aspect, bills elevated by 113.43% to N4.65 billion from N2.18 billion, reflecting greater personnel, depreciation, and different working bills.
- Personnel bills rose to N1.32 billion from N671.82 million, whereas different working bills elevated to N2.96 billion from N1.33 billion.
Nevertheless, the financial institution maintained a cost-to-income ratio of 58.97%, in contrast with 58.88% within the corresponding interval of 2025.
- The third-quarter figures point out sustained earnings momentum, with curiosity earnings reaching N14.26 billion, in contrast with N5.28 billion within the corresponding quarter of 2025.
Quarterly internet curiosity earnings elevated to N3.60 billion from N1.16 billion, whereas profit after tax rose by 161.03% to N1.68 billion from N641.87 million.
Balance Sheet
On the steadiness sheet, Abbey Bank’s whole property expanded by 126.58% to N375.73 billion as of September 2026, from N165.83 billion in December 2025, primarily pushed by will increase in balances with different monetary establishments and investments.
- Amounts due from banks and different monetary establishments elevated by 392.00% to N214.99 billion from N43.70 billion, whereas monetary investments held at amortised value rose by 27.79% to N136.19 billion from N106.57 billion.
- Loans and advances to clients elevated by 13.96% to N11.08 billion from N9.72 billion.
The growth in property was supported by a considerable improve in buyer deposits, which rose by 231.29% to N263.81 billion from N79.63 billion.
Shareholders’ fairness additionally elevated to N73.76 billion from N10.79 billion, reflecting further capital of N61.93 billion issued and totally paid in the course of the interval.
- Overall, Abbey Bank’s outcomes replicate stronger curiosity earnings, vital deposit mobilisation and elevated capitalisation because it prepares to start regional business banking operations.
The financial institution disclosed that it acquired ultimate regulatory approval for its conversion on June 5, 2026, and anticipated to start business banking operations within the fourth quarter of 2026.
Market response
Abbey Bank closed at N5.75 per share on Tuesday, November 3, 2026, representing a decline of 8.73% from its earlier closing value of N6.30 on November 2.
The inventory has declined by 10.2% year-to-date from its opening value of N6.40 in the beginning of 2026.
