Abbey Mortgage Bank’s profit rises 23%

Abbey Mortgage Bank Plc recorded a 23 per cent increase in profit after tax to N1.07bn in its audited financial statements for the year ended December 31, 2024, compared to N871.3m in the previous year.

According to its financial statement on the Nigeria Exchange Limited on Thursday, the growth in profit was driven by a rise in interest income, which surged by 66 per cent to N11.95bn from N7.2bn in 2023. However, the bank’s interest expenses…