Abbey Mortgage increases net profit by 11.8% to N856m

Abbey Mortgage Plc has grown its net profit by 11.79 percent to N856.26 million in December 2023 from N766.19 million as of December 2022.

The firm’s interest income spiked by 49.27 percent to N49.27 billion in December 2023 from N4.83 billion the previous year.

However, fees and commission income were down 83.15 percent to N395.08 million. The Bank was able to reduce costs as total operating expenses were reduced by 1.70 percent to N2.31 billion even amid a challenging environment.

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