Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax of N1.9 billion in just 10 months of operations, a result that stands as a major milestone in Nigeria’s banking industry and reinforces the Bank’s emergence as one of the country’s most remarkable new-generation financial institutions.
- +Alpha Morgan Bank posts N1.9bn PBT in 10 months of operations
With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.
With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.
The Bank’s strong debut performance was supported by robust growth across key financial and operating indicators. Highlights of the 10-month financial statement include customer deposit of over N103 billion, gross earning of N13.1 billion, net interest margin of 67%, non-performing loan ratio of 0%.
The performance was driven largely by strong synergy in customer acquisition and branch expansion, a deliberate focus on growth in demand deposits, creation of quality risk assets and balance sheet efficiency. These achievements were further supported by robust operational processes powered by sound technology and systems, management depth and expertise, experience and strategic oversight provided by the Bank’s Board.
Speaking on the performance, Ade Buraimo, the Managing Director, described the result as a significant validation of the Bank’s vision, business model and execution capacity.
He said, “This is more than a financial milestone; it is a strong statement of what is possible when vision, discipline, sound execution, and market opportunity come together.
From inception, Alpha Morgan Bank was built to be a commercial bank that is solution-driven and committed to delivering value at scale. To record a PBT of N1.9 billion in our first 10 months of operations is both historic and deeply encouraging. It reflects the dedication of our people, the trust of our customers and the solid foundation we have laid for long-term growth.”
Alpha Morgan Bank is a customer-centric, innovative, and solutions-driven commercial bank and commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country. This early footprint, combined with disciplined market execution, has enabled the Bank to build momentum across key business segments in record time.
