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.
- +Abbey Mortgage Bank projects N8.06bn gross earnings
The primary mortgage institution submitted its forecast profit and loss account and cash flow information to the Nigerian Exchange last week.
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.
Following a forecasted taxation deduction of N242.38m, the lender expects to close the third quarter with a profit after tax of N727.14m.
A deep look into the bank’s cash flow statement reveals a highly strategic asset reshuffle and strong defensive liquid capital positioning. While the bank anticipates an operating cash outflow of N494.82m before working capital changes, highly efficient cash management under the hood is expected to yield N1.76bn in net cash generated directly from operating activities.
Furthermore, the bank has outlined an aggressive N2.30bn investment expenditure plan for the quarter, reflecting a strong deployment of capital into long-term wealth assets. This capital expenditure will be supported by net cash inflows from financing operations, which are projected at N800m.
Ultimately, these combined cash interactions will generate a net increase of N261.47m in cash and cash equivalents during the quarter. When added to the bank’s massive opening liquid cash position of N29.47bn at the start of the period, Abbey Mortgage Bank projects its total cash and cash equivalents to hit a highly robust N29.73bn by the close of the third quarter.
