Quarter 1 - financial statement for 2026

CONTENTS

Page

Introduction

2

Result at a Glance

3

Statement of Profit or Loss and Other Comprehensive Income

4

Statement of Financial Position

5

Statement of Changes in Equity

6

Statement of Cash Flows

7

Notes to the Financial Statements

8

Statement of Value Added

36

Five-Year Financial Summary

37

ABBEY MORTGAGE BANK PLC

RESULT AT A GLANCE - 31 MARCH, 2026

GROSS EARNINGS

PROFIT BEFORE TAX

PROFIT AFTER TAX

N7,010.51 million

N750.28 million

N715.23 million

MAJOR INCOME STATEMENT ITEMS 2026 2025 INCREASED

March March

N'000 N'000 %

MAJOR STATEMENT OF FINANCIAL POSITION ITEMS 2026 2025 INCREASED

March December

N'000 N'000 %

3,776,673

85.63

925,496

42.41

359,342

108.79

340,459

110.08

13.41

110.08

9,720,974

4.91

79,630,911

50.12

165,828,795

34.11

10,787,416

6.63

Gross Earnings

7,010,508

Net Interest Income

1,317,994

Profit Before Tax

750,285

Profit After Tax

715,232

Earnings Per Share:

-Basic (Kobo)

28.18

Loans and Advances to Customers

10,198,454

Deposits from Customers

119,539,661

Total Assets

222,394,814

Total Equity

11,502,648

Interest income

Interest expense

Net interest income

UNAUDITED

UNAUDITED

3 Months

3 Months

Mar-26

Mar-25

₦'000

₦'000

6,712,501

3,682,380

(5,394,507)

(2,756,884)

1,317,994

925,496

5

211,241

43,595

Other operating income

6

86,766

50,698

Total operating income

Credit loss expense

Net operating income

1,616,001

1,019,789

-

-

1,616,001

1,019,789

Personnel expenses

Depreciation

Amortisation

Other operating expenses

Total operating expenses

8

(246,103)

(218,882)

9

(56,013)

(49,825)

21

(7,721)

(7,985)

10

(555,879)

(383,755)

(865,716)

(660,447)

750,285

359,342

11.1

(35,053)

(18,883)

715,232

340,459

715,232

340,459

12

28.18

ABBEY MORTGAGE BANK PLC

STATEMENT OF FINANCIAL POSITION

AS AT 31ST MARCH 2026

UNAUDITED

AUDITED

Mar-26

Dec-25

₦'000

₦'000

Cash on hand

13

37,922

29,823

Cash balances with the Central Bank

14

1,020,000

1,020,000

Due from banks and other financial institutions

15

59,010,318

43,696,918

Loans and advances

16

10,198,454

9,720,974

Financial investments - equity instrument at FVTPL

17

929,141

929,141

Financial Investments- securities at amortised cost

18

146,449,961

106,574,885

Other assets

19

2,547,705

1,649,829

Property and equipment

20

1,969,384

1,967,577

Intangible assets

21

231,928

239,648

Total Assets

222,394,814

165,828,795

Liabilities and equity

Deposits from customers

Due to other banks

Current income tax payable

Other liabilities

Deferred tax liabilities

Borrowings

Deposit for shares

Funds for on-lending

Equity

Share capital

Share premium

Retained earnings

Statutory reserve

Regulatory risk reserve

Total Equity

22

119,539,661

79,630,911

23

5,489,079

10,108,925

11

571,384

536,331

24

1,125,148

704,171

25

470,869

470,869

25.2

7,441,452

4,912,536

26

64,547,233

49,156,885

27

11,707,340

9,520,751

210,892,166

155,041,379

28

5,076,923

5,076,923

29

1,576,504

1,576,504

30

3,143,321

2,428,088

31

1,119,318

1,119,318

586,583

586,583

11,502,648

10,787,416

222,394,814

165,828,795

HIGH CHIEF SAMUEL ONI

Chairman

FRC/2024/PRO/DIR/003/868224

MOBOLAJI ADEWUMI

Managing Director/CEO

FRC/2021/PRO/DIR/003/00000022431

OLUWATOMI OLURINOLA

Financial Controller

FRC/2021/PRO/ICAN/001/00000025175

Share

Share

Statutory

Regulatory

Retained

Total

capital

Premium

Reserve

risk reserve

Earnings

Equity

₦'000

₦'000

₦'000

₦'000

₦'000

₦'000

Balance as at 1 January 2025

5,076,923

1,576,504

686,336

764,212

1,127,763

9,231,738

Profit for the year

-

-

-

-

2,164,910

2,164,910

Dividend paid

-

-

-

-

(609,232)

(609,232)

Transfer to statutory reserve

-

-

432,982

-

(432,982)

-

Transfer to regulatory risk reserve

-

-

-

(177,628)

177,628

-

Balance as at 31 December 2025

5,076,923

1,576,504

1,119,318

586,584

2,428,087

10,787,416

Profit for the period

-

-

-

-

715,232

715,232

Other comprehensive income for the year

-

-

-

-

-

-

Transfer to statutory reserve

-

-

-

-

-

-

Dividend paid

-

Transfer to regulatory risk reserve

-

-

-

-

-

-

Balance as at 31 March 2026

5,076,923

1,576,504

1,119,318

586,584

3,143,320

11,502,648

Cash flows from investing activities:

Purchase of intangible assets

21

-

(729)

Proceeds on disposal of property and equipment

-

91,195

Purchase of property and equipment

20

(57,820)

(691,745)

Dividend received

-

41,500

Net cash flows used in investing activities

(57,820)

(559,779)

Cash flows from operating activities:

Profit before income tax

Adjustment for non-cash items

Cash flows from operating activities before changes in

working capital

Change in operating assets

Change in operating liabilities

Income tax paid

Interest received

Interest paid

Net cash flows used in operating activities

Cash flows from financing activities:

Deposit for share

Dividend paid

Proceeds of long-term borrowings

Repayments of long-term borrowings

Net cash flows from financing activities

Net increase in cash and cash equivalents

Cash and cash equivalents at beginning of year

Cash and cash equivalents at end of period

32.5

32.2

32.3

11.2

32.4

32.4

750,285

3,125,422

(1,254,260)

(4,917,087)

(503,975)

(1,791,665)

(40,862,342)

(49,939,971)

44,502,424

33,624,724

-

(51,903)

4,072,008

17,432,401

(5,143,265)

(12,493,250)

2,064,851

(13,219,662)

15,390,348

45,156,885

-

(609,231)

3,500,000

2,550,000

(956,032)

(2,690,992)

17,934,316

44,406,662

UNAUDITED

AUDITED

3 Months

12 Months

Mar-26

Dec-25

₦'000

₦'000

19,941,347

30,627,221

33,639,436

3,012,215

53,580,782

33,639,436

1

General information

These financial statements are the financial statements of Abbey Mortgage Bank Plc. (the "Bank"), a public limited liability company incorporated on 26 August 1991 and domiciled in Nigeria. The Bank obtained its licence to operate as a mortgage bank on 20 January 1992 and commenced business on 11 March 1992. It was later converted to a public limited liability company in September 2007. On 21 October 2008, the Bank became officially listed on the Nigerian Exchange

Group.

2.1

Basis of preparation

a

Statement of Compliance

These financial statements of the Bank are general purpose financial statements which have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). Additional information required by the provisions of the Companies and Allied Matters Act, 2020, the Banks and Other Financial Institutions Act, 2020, the Financial Reporting Council of Nigeria ("FRCN") Act, 2023 and relevant Central Bank of

Nigeria circulars, is included where appropriate.

b

Basis of Measurement

The financial statements have been prepared on the historical cost basis except for equity instruments which are carried at fair value.

c

Use of Estimates and Judgments

The preparation of the financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the

application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is

revised and in any future periods affected.

2.2

Changes in accounting policies and disclosures

The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the preparation of the Bank's annual financial statements for the period ended 31 March 2026. The Bank has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.

2.2.1

Standards, amendments and interpretations effective during the reporting period

i

Classification and Measurement of Financial Instruments - Amendments to IFRS 9 and IFRS 7

In May 2024, the IASB issued amendments to IFRS 9 'Financial Instruments' and IFRS 7 'Financial Instruments: Disclosures', effective for annual reporting periods beginning on, or after, 1 January 2026. In addition to guidance as to when certain financial liabilities can be deemed settled when using an electronic payment system, the amendments also provide further clarification regarding the classification of financial assets that contain contractual terms that change the timing or amount of contractual cash flows, including those arising from ESG-related contingencies, and financial assets with certain non-recourse features.

This does not have a significant impact on the Bank.

ii

Contracts Referencing Nature-dependent Electricity - Amendments to IFRS 9 and IFRS 7

In December 2024, the Board issued Contracts Referencing Nature-dependent Electricity (Amendments to IFRS 9 and IFRS 7), effective for annual reporting periods beginning on or after, 1 January 2026. The amendments:

• Update the 'own-use' requirements for in-scope contracts. Under the amendments, the sale of unused nature-dependent electricity will be in accordance with an

  entity's expected purchase or usage requirements, if specified criteria are met.

• Amend the designation requirements for a hedged item in a cash flow hedging relationship for in-scope contracts. The amendments will allow an entity to designate a variable nominal volume of forecast electricity transactions as a hedged item, if specified criteria are met.

• Add new disclosure requirements to enable investors to understand the effect of these contracts on a company's financial performance and cash flows. IFRS 7 has been amended to require specific disclosures relating to contracts that have been excluded from the scope of IFRS 9 as a result of the amendments.

The amendments only apply to contracts that reference nature-dependent electricity. These are contracts that expose an entity to variability in an underlying amount of electricity because the source of electricity generation depends on uncontrollable natural conditions, typically associated with renewable electricity sources such as sun and wind.

This does not have a significant impact on the Bank.

For the period ended 31 March 2026

2.3

Standards issued but not yet effective

i

IFRS 18 'Presentation and Disclosure in Financial Statements'

In April 2024, the IASB issued IFRS 18 'Presentation and Disclosure in Financial Statements', effective for annual reporting periods beginning on or after 1 January 2027. The new accounting standard aims to give users of financial statements more transparent and comparable information about an entity's financial performance. It will replace IAS 1 'Presentation of Financial Statements' but carries over many requirements from that IFRS Accounting Standard unchanged. In addition, there are three sets of new requirements relating to the structure of the income statement, management-defined performance measures and the aggregation and disaggregation of financial information.

While IFRS 18 will not change recognition criteria or measurement bases, it might have a significant impact on presenting information in the financial statements, in particular the income statement. The Bank is currently assessing any impacts as well as data readiness before developing a more detailed implementation plan.

ii

IFRS 19 - Subsidiaries without Public Accountability: Disclosures

In May 2024, the Board issued IFRS 19 Subsidiaries without Public Accountability: Disclosures, which allows eligible entities to elect to apply reduced disclosure

requirements effective for annual reporting periods beginning on or after, 1 January 2027, while still applying the recognition, measurement and presentation requirements in other IFRS accounting standards. Unless otherwise specified, eligible entities that elect to apply IFRS 19 will not need to apply the disclosure requirements in other IFRS accounting standards.

An entity applying IFRS 19 is required to disclose that fact as part of its general IFRS accounting standards compliance statement. IFRS 19 requires an entity whose financial statements comply with IFRS accounting standards including IFRS 19 to make an explicit and unreserved statement of such compliance.

The Bank is neither a subsidary of another company nor does it have its own subsidiary.

iii

Translation to a Hyperinflationary Presentation Currency - Amendments to IAS 21

In November 2025, the Board issued Translation to a Hyperinflationary Presentation Currency - Amendments to IAS 21, effective for annual periods beginning on or after 1 January 2027. The amendments require translation from a non-hyperinflationary functional currency into a hyperinflationary presentation currency at the closing rate.

If an entity's functional currency is the currency of a non-hyperinflationary economy, but its presentation currency is the currency of a hyperinflationary economy, its results and financial position are translated into the presentation currency by translating all amounts (i.e., assets, liabilities, equity items, income and expenses) and all comparatives at the closing rate at the date of the most recent statement of financial position.

An entity whose functional currency and presentation currency are the currency of a hyperinflationary economy, restates the comparative amounts of a foreign operation, whose functional currency is that of a non-hyperinflationary economy, by applying the general price index, in accordance with paragraph 34 of IAS 29, to the foreign operation's comparative figures.

The amendments also introduce certain additional disclosure requirements. The Bank is undertaking an assessment of the potential impact.

For the period ended 31 March 2026

2.4

Significant accounting judgements, estimates and assumptions

In the application of the Bank's accounting policies, the Directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate

is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

i.

Going Concern

The financial statements have been prepared on the going concern basis and there is no intention to curtail business operations. The Directors have made

assessment of the Bank's ability to continue as a going concern and have no reason to believe that the Bank will not remain a going concern in the next 12 months ahead.

ii.

Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Bank based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Bank. Such changes are reflected in the assumptions when they occur.

iii.

Determination of collateral Value

Management monitors market value of collateral on a regular basis. Management uses experienced judgement to adjust the fair value to reflect the current

circumstances. The amount and collateral required depend on the assessment of credit risk of the counterpart.

iv.

Useful lives and carrying value of property and equipment and intangible assets

The estimation of the useful lives of assets is based on management's judgment. Any material adjustment to the estimated useful lives of items of property and equipment and intangibles will have an impact on the carrying value of these items. Areas where significant estimate are significant are disclosed in Note 20 and 21.

v.

Determination of impairment of property and equipment, and intangible assets

Management is required to make judgments concerning the cause, timing and amount of impairment. In the identification of impairment indicators, management considers the impact of changes in current competitive conditions, cost of capital, availability of funding, technological obsolescence, discontinuance of services and other circumstances that could indicate that impairment exists. The Bank applies the impairment assessment to its separate cash generating units. This requires management to make significant judgments and estimates concerning the existence of impairment indicators, separate cash generating units, remaining useful lives of assets, projected cash flows and net realisable values. Management's judgment is also required when assessing whether a previously recognised impairment loss should be reversed. No property and equipment, and intangible asset was impaired at the period end- See Note 20 and 21.

vi.

Fair value measurement of financial instruments

The Bank measures fair values using the following hierarchy of methods.

· Level 1: Quoted market price in an active market for an identical instrument.

· Level 2: Valuation techniques based on observable inputs either directly- i.e. as prices or indirectly- i.e. derived from prices. This category includes instruments valued using: quoted market prices in active markets for similar instruments; quoted prices for similar instruments in markets that are considered less than active; or other valuation techniques where all significant inputs are directly or indirectly observable from market data.

· Level 3: This includes financial instruments, the valuation of which incorporate significant inputs for the asset or liability that is not based on observable market data (unobservable inputs). Unobservable inputs are those not readily available in an active market due to market illiquidity or complexity of the product.

These inputs are generally determined based on inputs of a similar nature, historic observations on the level of the input or analytical techniques.

For the period ended 31 March 2026

2.4

Significant accounting judgements, estimates and assumptions - continued

vii.

Deferred tax assets

Deferred tax assets are recognised in respect of tax losses to the extent that it is probable that future taxable profit will be available against which the losses can be utilised. Judgment is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and level of future taxable profits, together with future tax-planning strategies. Unrelieved tax losses can be used indefinitely.

viii.

Owner-occupied properties

The Bank classifies owner-occupied properties as property and equipment when the Bank evaluate the terms and conditions of the arrangements, such as lease term not constituting a major part of the economic life of the property, the present value of the minimum lease payments not amounting to substantially all of the carrying value of the property and that it retains all the significant risks and rewards of ownership of the property.

ix.

Impairment under IFRS 9

The impairment requirements of IFRS 9 apply to all debt instruments that are measured at amortised cost. Expected credit losses are recognised upon initial recognition of the financial asset based on expectation of potential credit losses at the time of initial recognition.

The Bank does not originate or purchase credit impaired loans or receivables.

For financial assets considered to be credit impaired, the ECL allowance covers the amount of loss the Bank is expected to suffer. The estimation of ECLs is done on

a case by case basis for non-homogenous portfolios, or by applying portfolio based parameters to individual financial assets in this portfolios by the Bank's ECL model for homogenous portfolios.

Forecast of future economic conditions when calculating ECLs are considered. The lifetime expected losses are estimated based on the probability - weighted

present value of the difference between:

1. The contractual cash flows that are due to the Bank under the contract; and

2. The cash flows that the Bank expects to receive.

Forward looking information

In its ECL models, the Bank relies on a broad range of forward looking information as economic inputs, such as:

• GDP growth

• Unemployment rates

• Inflation rates

• Foreign exchange rates

• Market growth rates

The inputs and models used for calculating ECLs may not always capture all characteristics of the market at the date of the financial statements. To reflect this, qualitative adjustments or overlays are occasionally made as temporary adjustments when such differences are significantly material.

For the period ended 31 March 2026

Summary of significant accounting policies - continued

Financial liabilities

Initial and subsequent measurement

Financial liabilities are initially measured at their fair value, except in the case of financial liabilities recorded at FVPL, transaction costs are added to, or subtracted

from, this amount. Financial liabilities, other than loan commitments and financial guarantees, are measured at amortised cost or at FVPL when they are held for trading and derivative instruments or the fair value designation is applied.

After initial measurement, debt issued and other borrowed funds are subsequently measured at amortised cost. Amortised cost is calculated by taking into account any discount or premium on issue funds, and costs that are an integral part of the EIR. The Bank classifies financial liabilities as held for trading when they have been purchased or issued primarily for short-term profit making through trading activities or form part of a portfolio of financial instruments that are managed together, for which there is evidence of a recent pattern of short-term profit taking. Held-for-trading liabilities are recorded and measured in the statement of financial position at fair value.

In both the current and prior period, all financial liabilities are classified and subsequently measured at amortised cost.

Modifications

Reclassification

Financial liabilities are not reclassified after initial classification.

2.7.1

Income and expenses

Interest income and expenses are recognised in profit or loss using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument to:

• The gross carrying amount of the financial asset; or

• The amortised cost of the financial liability.

When calculating the effective interest rate for financial instruments other than credit-impaired assets, the Bank estimates future cash flows considering all contractual terms of the financial instrument, but not expected credit losses. For credit-impaired financial assets, a credit-adjusted effective interest rate is calculated using estimated future cash flows including expected credit losses. The EIR (and therefore, the amortised cost of the asset) is calculated by taking into account any discount or premium on acquisition, fees and costs that are an integral part of the EIR. The Bank recognizes interest income using a rate of return that represents the best estimate of a constant rate of return over the expected life of the loan. Hence, it recognises the effect of potentially different interest rates charged at various stages, and other characteristics of the product life cycle (including prepayments, penalty interest and charges).

If expectations regarding the cash flows on the financial asset are revised for reasons other than credit risk. The adjustment is booked as a positive or negative adjustment to the carrying amount of the asset in the statement of financial position with an increase or reduction in interest income. The adjustment is subsequently amortised through interest income in profit or loss.

a. Amortised cost and gross carrying amount

The amortised cost of a financial asset or financial liability is the amount at which the financial asset or financial liability is measured on initial recognition minus the principal repayments, plus or minus the cumulative amortisation using the effective interest method of any difference between the initial amount and the maturity amount and, for financial assets, adjusted for any expected credit loss allowance (or impairment allowance before 1 January 2018). The gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any expected credit loss allowance.

b. Calculation of interest income and expenses

The Bank calculates interest income and expense by applying the effective interest rate to the gross carrying amount of the asset (when the asset is not credit-impaired) or to the amortised cost of the liability.

However, for financial asset that have become credit-impaired subsequent to initial recognition and is, therefore, regarded as 'Stage 3', the Bank calculates interest

income by applying the effective interest rate to the net amortised cost of the financial asset. If the financial assets cures and is no longer credit-impaired, then the Bank reverts to calculating interest income on a gross basis.

For the period ended 31 March 2026

Summary of significant accounting policies - continued

Fees and commission

Fees and commission income and expense that are integral to the effective interest rate on a financial asset or liability are included in the measurement of the effective interest rate.

Other fees and commission income including account servicing fees, investment management fees, sales commission, placement fees and syndication fees are recognised as the related services are performed. When a loan commitment is not expected to result in the draw down of a loan, the related loan commitment fees are recognised on a straight line basis over the commitment period.

2.7.3

Other operating income

Included in other operating income are other income, profit on sale of property and equipment rental income and fair value gain on financial instruments at FVTPL

.

Rental income

Rental income arising from operating leases on properties is accounted for on a straight-line basis over the lease terms and is included in other income in the statement of profit or loss due to its operating nature.

2.7.4

Income tax expense

Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognised in profit or loss except to the extent that it relates to items recognised directly in equity or in other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year using tax rates enacted or substantively enacted at the reporting

date and any adjustment to tax payable in respect of previous years.

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the

deferred taxes relate to the same taxable entity and the same taxation authority.

2.7.5

Valuation of Financial Instruments

The best evidence of fair value is a quoted price in an actively traded market. In the event that the market for a financial instrument is not active, a valuation technique is used. The majority of valuation techniques employ only observable market data and so the reliability of the fair value measurement is high. However, certain financial instruments are valued on the basis of valuation techniques that feature one or more significant market inputs that are unobservable. Valuation techniques that rely to a greater extent on unobservable inputs require a higher level of management judgment to calculate a fair value than those based wholly on observable inputs.

The main assumptions and estimates which management consider when applying a model with valuation techniques are:

· The likelihood and expected timing of future cash flows on the instrument. These cash flows are usually governed by the terms of the instrument, although judgment may be required when the ability of the counterparty to service the instrument in accordance with the contractual terms is in doubt. Future cash flows may be sensitive to changes in market rates;

· Selecting an appropriate discount rate for the instrument. The determination of this is based on the assessment of what a market participant would regard as the appropriate spread of the rate for the instrument over the appropriate rate; and

· Judgment to determine what model to use to calculate fair value in areas where the choice of valuation model is particularly subjective, for example, when valuing complex derivative products.

When applying a model with unobservable inputs, estimates are made to reflect uncertainties in fair values resulting from a lack of market data inputs, for example, as a result of illiquidity in the market. For these instruments, the fair value measurement is less reliable. Inputs into valuations based on unobservable data are inherently uncertain because there is little or no current market data available from which to determine the level at which an arm's length transaction would occur under normal business conditions. However, in most cases there is some market data available on which to base a determination of fair value, for example historical data, and the fair values of most financial instruments are based on some market observable inputs even when unobservable inputs are significant.

Given the uncertainty and subjective nature of valuing financial instruments at fair value, it is possible that the outcomes in the next financial year could differ from the assumptions used, and this could result in a material adjustment to the carrying amount of financial instruments measured at fair value.

For the period ended 31 March 2026

Summary of significant accounting policies - continued

Fair value measurement

The Bank measures financial instruments, such as, quoted equities, at fair value at each reporting date. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

. In the principal market for the asset or liability, or

. In the absence of a principal market, in the most advantageous market for the asset or liability

The principal or the most advantageous market must be accessible to the Bank. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Bank uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

2.7.6

Cash and cash equivalents

For the statement of cash flows presentation purposes, cash and cash equivalents includes cash on hand, deposits held at call with other financial institutions, other short-term, highly liquid investments with original terms to maturity of three months or less that are readily convertible to cash and which are subject to an insignificant risk of changes in value. Restricted cash are not part of cash and cash equivalents.

2.7.7

Property and equipment

i

Recognition and measurement

Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses.

The cost of the relevant property, plant and equipment includes and is made up of expenditures that are directly attributable to the acquisition of the assets. Additions and subsequent expenditures are capitalised only to the extent that they enhance the future economic benefits expected to be derived from the assets and the cost of the asset can be measured reliably. All other repairs and maintenance are charged to the profit and loss statement during the period in which they were incurred.

Construction cost in respect of offices is carried at cost as work in progress. On completion of construction, the related amounts are transferred to the appropriate category of property, plant and equipment. Payments in advance for items of property, plant and equipment are included as prepayments in other assets and upon delivery are reclassified as additions in the appropriate category of property, plant and equipment. No depreciation is charged until the assets are available for use.

ii

Subsequent costs

The cost of replacing a part of an item of property or equipment is recognised in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the bank and its cost can be measured reliably. The carrying amount of the replaced part is derecognised. The cost of the day

to-day servicing of property and equipment are recognised in profit or loss as incurred.

iii

Depreciation

Depreciation is provided on the depreciable amount of items of property, plant and equipment on a straight-line basis over their estimated useful economic lives.

The depreciable amount is the gross carrying amount, less the estimated residual value at the end of its useful economic life. Work in progress is not depreciated.

The estimated useful lives are as follows:

Motor vehicles

4 years

Office furniture and equipment

10 years

Buildings

50 years

Computer equipment

5 years

Land is not depreciated. Depreciation rates, methods and the residual values underlying the calculation of depreciation of items of property, plant and equipment

are kept under review to take account of any change in circumstances.

For the period ended 31 March 2026

Summary of significant accounting policies - continued

De-recognition

An item of property and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected

from its use or disposal.

v

Gain or loss on sale of property, plant and equipment

The gain or loss on the disposal of premises and equipment is determined as the difference between the carrying amount of the assets at the time of disposal and the proceeds of disposal, and is recognized as an item of other income in the year in which the significant risks and rewards of ownership are transferred to the

buyer.

2.7.8

Intangible assets

Intangible assets consist of computer software and costs associated with the development of software for internal use. Computer software is stated at cost, less amortisation and accumulated impairment losses, if any. Costs that are directly associated with the production of identifiable and unique software products, which are controlled by the Bank and which will probably generate economic benefits exceeding costs are recognized as intangible assets. These costs are amortised on the basis of expected useful lives of the software which range from three to five years. Amortisation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate. Costs associated with maintaining software programs are recognized as expenses when incurred.

Impairment of tangible and intangible assets excluding goodwill

At each reporting date, or more frequently where events or changes in circumstances dictate, tangible and intangible assets excluding goodwill, are assessed for indications of impairment. If indications are present, these assets are subject to an impairment review. For the purpose of conducting impairment reviews, cash-generating units are the lowest level at which management monitors the return on investment on assets. The impairment review includes the comparison of the carrying amount of the asset with its recoverable amount.

The recoverable amount of the asset is the higher of the assets or the cash-generating unit's fair value less cost to sell and its value in use. Fair value less cost to sell is calculated by reference to the amount at which the asset could be disposed of in a binding sale agreement in an arm's length transaction evidenced by an active market or recent transactions for similar assets.

2.8.1

Employee benefits

i

Post employment benefits

The Bank operates a defined contribution pension plan. A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution

pension plans are recognised as personnel expense in profit or loss in the periods during which services are rendered by employees.

ii

Short term employee benefits

Short-term employee benefits, such as salaries, paid absences, and other benefits, are accounted for on an accruals basis over the period which employees have

provided services in the year. Bonuses are recognised to the extent that the Bank has a present obligation to its employees that can be measured reliably.

2.8.2

Share Capital

Share issue costs

Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds reflected in the share premium.

Share premium

Premiums from the issue of shares are reported in share premium.

Dividends on ordinary shares.

Dividends on ordinary shares are recognised in equity in the period in which they are approved by the Bank's shareholders. Dividends declared after the reporting

date are recognized in the subsequent period.

For the period ended 31 March 2026

Summary of significant accounting policies - continued

Equity reserve

The reserves recorded in equity on the Bank's statement of financial position include:

Statutory reserve details un-distributable earnings required to be kept by the nation's central bank in accordance with the national law. The national law requires

every Primary Mortgage Bank (PMB) to maintain a reserve fund and shall, out of its net profit after taxation and before any dividend is declared, transfer to the statutory reserve as follows:

1. Where the reserve fund is less than the paid-up share capital, a minimum of 20% of the net profit; or

2. Where the reserve fund is equal to or in excess of the paid-up share capital, a minimum of 10% of net profit;

3. No transfer to the reserve fund shall be made until all identifiable losses have been made good.

2.8.4

Earnings per share

Basic earnings per share is calculated by dividing net profit after tax applicable to equity holders of the Bank, excluding any costs of servicing other equity

instruments, by the weighted average number of ordinary shares outstanding during the financial year.

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effective interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of additional ordinary shares that would have been

outstanding assuming the conversion of all dilutive potential ordinary shares.

2.8.5

Leases

The determination of whether an arrangement is a lease, or contains a lease, is based on the substance of the arrangement at the inception date and requires an assessment of whether the fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the

asset, even if that right is not explicitly specified in an arrangement.

Bank as a lessee

The Bank applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The bank has adopted the short term lease exemption for its leases and recognizes short term lease rentals on a straight line basis in the profit or loss statement.

Bank as a lessor

Leases where the Bank does not transfer substantially all of the risk and benefits of ownership of the asset are classified as operating leases. Initial direct costs incurred in negotiating operating leases are added to the carrying amount of the leased asset and recognised over the lease term on the same basis as rental

income.

4

Interest expense calculated using effective interest rate:

Due to customers

Borrowings

5,203,255

2,194,593

191,252

562,291

5,394,507

2,756,884

UNAUDITED

UNAUDITED

3 Months

3 Months

Mar-26

Mar-25

₦'000

₦'000

3

Interest income

Interest income calculated using effective interest rate:

Loans and advances

Short term funds

Investment securities- at amortised cost

582,283

663,827

5,279,498

2,370,542

850,720

648,011

6,712,501

3,682,380

5

Fees and commission income

Mortgage fees

3 Months

3 Months

Mar-26

Mar-25

₦'000

₦'000

211,241

43,595

211,241

43,595

6

Other Operating income

Rental income

Other income

Profit or (loss) on sale of property, plant and equipment

3 Months

3 Months

Mar-26

Mar-25

₦'000

₦'000

669

527

86,097

50,171

-

-

86,766

50,698

7

Credit loss expense

Credit loss expense/(write back)- balances due from CBN

Credit loss expense/(write back)- balances due from banks

Credit loss expense/(write back)- loans and advances

Credit loss expense/(write back)- securities at amortised cost

Credit loss expense/(write back)- other assets

-

-

-

-

-

-

-

-

-

-

-

-

8

Personnel expenses

Wages, salaries and other staff costs

Retirement contribution plan

Medical expenses

UNAUDITED

UNAUDITED

3 Months

3 Months

Mar-26

Mar-25

₦'000

₦'000

206,432

190,369

9,453

9,064

30,218

19,449

246,103

218,882

9

Depreciation

Depreciation of property plant and equipment (Note 20)

56,013

49,825

56,013

49,825

10

Other operating expenses

Directors remuneration

Subscriptions, publications, stationeries, and communications

Property and equipment repairs and maintenance

Insurance expenses

Electricity and gas

Deposit insurance commission

Auditors remuneration

Professional fees

Security costs

Advertising expenses

Bank charges

Donation

Lease charges - short term

Other expenses

46,607

31,020

139,936

87,490

66,258

46,335

22,170

17,916

55,144

49,850

66,923

30,000

12,250

9,500

44,646

35,045

15,346

12,759

450

914

29,200

3,038

-

4,000

625

625

56,324

55,263

555,879

383,755

UNAUDITED

UNAUDITED

3 Months

3 Months

Mar-26

Mar-25

₦'000

₦'000

11.1

Income tax expense

Current income tax for the year

Income tax

Education tax

Technology levy

Capital gains tax

Tax assessment of prior year

Total current income tax expense

35,053

18,883

-

-

-

-

-

-

-

-

35,053

18,883

UNAUDITED

AUDITED

Mar-26

Dec-25

₦'000

₦'000

11.2

Current income tax payable

At beginning of the period 536,331 125,681

Income tax expense 35,053 524,720

Withholding tax credit utilized - (38,661)

Payments during the period - (75,409)

At end of the period 571,384 536,331

11.3

Reconciliation of effective tax rate

The effective income tax rate is 31%.

12

Earnings per share attributable to ordinary equity holders (Kobo) - Basic and Diluted

UNAUDITED

AUDITED

3 Months

12 Months

Mar-26

Dec-25

₦'000

Profit/(loss) after income tax attributable to the

₦'000

shareholders (₦'000) 2,860,929

2,164,911

Weighted average number of shares ('000) 10,153,846

10,153,846

(in kobo) 28

21

Diluted

There was no diluting instrument as at the reporting date. Hence, diluted earnings per share is the same as

basic earnings per share.

UNAUDITED

AUDITED

Mar-26

Dec-25

Cash on hand ₦'000

₦'000

Cash 37,922

29,823

37,922

29,823

14

Cash balances with Central Bank

Deposits with CBN

1,020,000

1,020,000

Allowance for impairment on cash balances with CBN

-

-

UNAUDITED

AUDITED

Mar-26

Dec-25

₦'000

₦'000

5,179,323

4,669,646

5,060,447

5,086,786

200,059

205,917

10,439,829

9,962,349

(241,375)

(241,375)

10,198,454

9,720,974

16

Loans and advances

Mortgages

Advances

National Housing Fund

Less ECL allowance

Total

59,032,189

43,718,789

Allowance for impairment on due from Banks (21,871)

(21,871)

59,010,318

43,696,918

15

Due from banks and other financial institutions

Balances with Federal Mortgage Bank of Nigeria ("FMBN")

250

250

Fixed placements with banks and other financial institutions

28,755,544

41,377,224

Other balances with banks

30,276,395

2,341,315

The balance with FMBN is a mandatory specified deposit required for the National Housing Fund on-lending loan. Balance with other banks earns interest at

floating rates based on daily bank deposit rates. Fixed placements with banks are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Bank, and earn interest at the respective fixed placement rates.

The Bank has restricted cash balances with the Central Bank of Nigeria and the FMBN. This balance is made up of CBN and FMBN cash reserve requirements. The cash reserve ratio represents a mandatory cash deposit which should be held with the Central Bank of Nigeria as a regulatory requirement. Restricted deposits with Central Bank and Federal Mortgage Bank are not available for use in the Bank's day-to-day operations.

16.1

The movement in ECL allowance on loans and advances was as follows:

Expected credit loss allowance

At beginning of the period

Charged for the period/(Writeback)

Bad debt written off/(Provision no longer required)

At end of the period

UNAUDITED

AUDITED

Mar-26

Dec-25

₦'000

₦'000

241,375

246,668

-

(5,293)

-

241,375

241,375

UNAUDITED

AUDITED

Mar-26

Dec-25

Financial investments - equity instrument at FVTPL ₦'000

₦'000

Quoted equities 305,556

305,556

Unquoted equities 623,585

623,585

929,141

929,141

18

Financial investments- securities at amortised cost

Securities at amortised cost- treasury bills

Securities at amortised cost- bonds

Fixed deposit placements

4,276,961

480,063

15,406,907

15,559,087

126,887,666

90,657,308

146,571,534

106,696,458

(121,573)

(121,573)

146,449,961

106,574,885

471,951

3,232

710,571

532,525

1,197,880

1,105,088

169,682

11,363

2,550,084

1,652,208

(2,379)

(2,379)

2,547,705

1,649,829

19

Other assets

UNAUDITED

AUDITED

Mar-26

Dec-25

₦'000

₦'000

Financial assets:

Sundry receivables

Non financial assets:

Prepayments

Witholding tax receivable

Stationery and stocks

UNAUDITED

AUDITED

Movement of allowance for impairment of other assets

Mar-26

Dec-25

₦'000

₦'000

Balance at the beginning of period

2,379

2,379

Reclassification

-

-

Provision for the period

-

-

Amount recovered

-

-

End of the period

2,379

2,379

20

Property and equipment

Land and

Office furniture

Computer

Motor

building

and equipment

equipment

vehicles

Total

₦'000

₦'000

₦'000

₦'000

₦'000

Cost

At 1 January 2026

1,725,557

452,893

533,664

302,460

3,014,576

Additions

-

15,780

42,040

-

57,820

Disposal

-

-

-

(500)

(500)

At 31 March 2026

1,725,557

468,673

575,704

301,960

3,071,894

Accumulated depreciation

At 1 January 2026

306,781

215,079

273,495

251,642

1,046,997

Charge for the period

8,684

8,226

23,708

15,395

56,013

Disposals

-

-

-

(503)

(503)

At 31 March 2026

315,465

223,305

297,203

266,534

1,102,507

Cost

At 1 January 2025

1,176,872

394,203

465,579

377,370

2,414,024

Additions

548,685

58,690

68,635

15,735

691,745

Disposal

-

-

(550)

(90,645)

(91,195)

At 31 December 2025

1,725,557

452,893

533,664

302,460

3,014,576

Accumulated depreciation

At 1 January 2025

280,257

186,700

189,055

278,845

934,857

Charge for the period

26,524

28,379

85,026

63,441

203,370

Disposals

-

-

(586)

(90,644)

(91,230)

At 31 December 2025

306,781

215,079

273,495

251,642

1,046,997

NBV at 31 March 2026 1,410,092

245,368

278,501

35,426

1,969,384

NBV at 31 December 2025 1,418,776

237,814

260,169

50,818

1,967,577

21

Intangible assets- computer software

UNAUDITED

AUDITED

Mar-26

Dec-25

₦'000

₦'000

Cost:

At 1 January

437,828

437,099

Addition

-

729

At the end of the period

437,828

437,828

Accumulated Amortisation:

At 1 January

198,180

166,853

Amortisation charge

7,721

31,326

At the end of the period

205,900

198,180

Carrying amount 231,928

239,648

119,539,661

79,630,911

Within one year

119,425,383

79,109,364

More than one year

114,278

521,547

119,539,661

79,630,911

UNAUDITED

AUDITED

Mar-26

Dec-25

₦'000

₦'000

22

Deposits from Customers

Demand deposits

25,589,094

7,052,748

Savings deposits

14,743,165

10,313,603

Term deposits

79,207,402

62,264,560

23

Due to other banks

Overdrawn balances with banks 5,489,079 10,108,925

5,489,079 10,108,925

24

Other liabilities

Accounts payable

743,296

468,668

Lease liability

-

2,708

Other liabilities

373,044

230,819

Staff pension contribution

6,798

869

Rent received in advance

2,008

1,132

1,125,148

704,171

UNAUDITED

AUDITED

Mar-26

Dec-25

Defined contribution scheme ₦'000

₦'000

Pension liability 6,798

869

25

Deferred tax liability

Deferred taxation-liability 470,869 470,869

UNAUDITED

AUDITED

Mar-26

Dec-25

Borrowings ₦'000

₦'000

7,441,452

4,912,536

The Bank has not had any defaults of principal, interest or other breaches with respect to its borrowings during the year.

UNAUDITED

AUDITED

Mar-26

Dec-25

26

Deposit for shares

₦'000

₦'000

64,547,233

49,156,885

UNAUDITED

AUDITED

Mar-26

Dec-25

Funds for on-lending ₦'000

₦'000

On-lending funds 11,707,340

9,520,751

UNAUDITED

AUDITED

Mar-26

Dec-25

28

Share capital

₦'000

₦'000

Issued and fully paid share capital of 50 kobo each

Balance at the beginning of the period

5,076,923

5,076,923

Addition

-

-

Balance at the end of the period

5,076,923

5,076,923

29

Share premium

Balance at the beginning of the period

1,576,504

1,576,504

Addition

-

-

Balance at the end of the period

1,576,504

1,576,504

30

Retained Earnings:

Balance at beginning of period

2,428,088

1,127,763

Profit for the period

715,232

2,164,910

Transfer to Statutory Reserve

(432,982)

Transfer from regulatory risk reserve

177,628

Dividend paid

(609,231)

Balance at end of period

3,143,321

2,428,088

31

Statutory Reserve:

Undistributable earnings required to be kept in line with the Central Bank of Nigeria's Prudential Guideline.

At the beginning of the period

1,119,318

686,336

Transfer from profit or loss account

-

432,982

At the end of the period

1,119,318

1,119,318

UNAUDITED

AUDITED

3 Months

12 Months

Mar-26

Dec-25

₦'000

₦'000

32.3

Change in operating liabilities

Net change in due to customers

42,165,322

25,054,865

Net change in funds for On-Lending

2,182,421

9,257,751

Net change in other liabilities

420,950

42,336

Net change in interest payables

(266,270)

(730,228)

44,502,424

33,624,724

5,143,265

12,493,250

Interest received

5,483,574

21,265,540

Movement in interest receivable

(1,411,566)

(3,833,139)

4,072,008

17,432,401

32.5

Adjustment for non-cash items

Depreciation of property and equipment

56,013

203,369

Amortisation of intangible assets

7,721

31,326

Impairment charge on loans and advances

-

(5,293)

Impairment charge on financial assets at amortised cost

-

606

Interest income using effective interest rate

(6,712,501)

(18,972,242)

Interest expense using effective interest rate

5,394,507

13,883,736

Dividend income received

-

(41,500)

Other assets written off

-

-

Fair value gain on equity instruments at FVPL

-

(51,103)

Loss/(profit) on sale of property and equipment

-(1,254,260)

(655)

(4,917,087)

33

Related party disclosures

Amount

Amount

Interest

Interest

Relationship to outstanding

outstanding

paid

paid

Nature of

Name of Borrower Bank Mar-26

Dec-25

Mar-26

Dec-25

Facility type

Status

security

₦'000

₦'000

₦'000

₦'000

VFD Group

The Bank's Director (Mr. Bolaji

Adewumi) is a Director of the Company

10,069

39,063

6,142

23,762

Mortgage loan

Performing

Cash Backed

10,069

39,063

6,142

23,762

Mar-26

Dec-25

Key management compensation ₦'000

₦'000

Salaries and other short term employee benefits 37,006

116,326

Post -employment benefits 6,612

4,607

43,618

120,933

35

Employees

The average number of persons employed by the Bank during the period was as follows:

Number

Number

Executive directors 3

3

Management 6

6

Non-management 170

145

179

154

Below -1,000,000

-

-

1,000,001-2,000,000

25

12

2000001-3,000,000

8

7

3,00,001-4,000,000.

48

52

4,000,001-5,000,000

33

26

Above-5,000,000

62

54

176

151

36

Directors emoluments

Fees

7,625

30,500

Executive compensation

37,006

116,326

Defined contribution scheme

6,612

4,607

Other directors expenses

5,800

29,550

57,043

180,983

37

Events after reporting date

There were no subsequent event which could have had a material effect on the financial position and

performance of the Bank for the first quarter ended 31 March 2026 which had not been adequately provided for or disclosed.

Funding and Liquidity

The Bank has a robust liquidity management framework and contingency funding plan that builds in adequate buffers to support liquidity run-off in a stress scenario. The liquidity ratio of the Bank as at 31 March 2026 is far above the the regulatory limit of 20% and the Bank projects that the ratio will continue to be higher than the regulatory minimum. Also the Bank will be less impacted by foreign exchange risk as its exposure to foreign assets is insignificant.

Analysis of balance sheet

The Bank has performed a line-by-line analysis of its balance sheet and has done an assessment of whether the current uncertainty may impact any of the amounts presented as at 31 March 2026 . The Bank has performed an analysis and reviewed the portfolio and the impact the spread would have on the Bank's credit portfolio. Management has concluded however that the amounts recognised in the financial statement do not require further adjustment but will continue to monitor situation as new information becomes available and adjustment thereof will be reflected in the appropriate reporting period.

38

Dividend

Dividend of 12 kobo per share has been proposed for 2026. Dividend paid in 2025 was 6 kobo per share.

39

Compliance with banking regulations

The Bank complied with all CBN regulations during the period. There are no contraventions during the

period that should be reported.

41

Securities Trading Policy

In compliance with Rule 17.15 Disclosure of Dealings in Issuers' Shares, Rulebook of the Exchange 2015 (Issuers Rule) Abbey Mortgage Bank Plc maintains a Security Trading Policy which guides Directors, Audit Committee members, employees and all individuals categorized as insiders as to their dealing in the Bank's securities. The Policy is periodically reviewed by the Board and updated. The Bank has made specific

inquiries of all its directors and other insiders and is not aware of any infringement of the policy during the period under review.

Description

Mar-26

Dec-25

Units

Percentage

Units

Percentage

Issued Share Capital

10,153,846,154

100%

10,153,846,154

100%

Substantial Shareholding (5% and above)

VFD Group Plc

2,284,352,875

22.50%

2,284,352,875

22.50%

Madonna Ashib Comm. Enterprise Ltd

1,445,270,971

14.23%

1,445,270,971

14.23%

Total Sustantial Shareholdings

3,729,623,846

36.73%

3,729,623,846

36.73%

Directors' Shareholdings

High Chief Samuel Oni

NIL

NIL

NIL

NIL

Mr. Mobolaji Adewumi

NIL

NIL

NIL

NIL

Mr. Oladipupo Adeoye

NIL

NIL

NIL

NIL

Mr. John Okonkwo

NIL

NIL

NIL

NIL

Brig-Gen John Obasa (rtd.)

NIL

NIL

NIL

NIL

Mr. Obinna Ufudo

3,048,532

0.03%

3,048,532

0.03%

Ms. Jewel Okwechime

134,064,146

1.32%

134,064,146

1.32%

Mrs Christabel Onyejekwe

50,000

0.00%

50,000

0.00%

Mrs Adenike Kuti

NIL

NIL

NIL

NIL

Ms. Chika Ochonogor

427,334,872

4.21%

427,334,872

4.21%

Total Directors' Shareholdings

564,497,550

5.56%

564,497,550

5.56%

Promoters and Their Close Relatives

Chief Ifeanyichukwu Boniface Ochonogor

3

0.00%

3

0.00%

Mrs. Rose Ada Okwechime

321,132,082

3.16%

321,132,082

3.16%

Okwechime Dumebi

88,302,460

0.87%

88,302,460

0.87%

Ochonogor Ngozi

427,334,872

4.21%

427,334,872

4.21%

Okwechime Lolita

47,142,857

0.46%

47,142,857

0.46%

Ochonogor Chukwuma

427,334,872

4.21%

427,334,872

4.21%

Ochonogor Ifeanyi Jnr

339,721,279

3.35%

339,721,279

3.35%

Ochonogor Nnamdi

427,334,872

4.21%

427,334,872

4.21%

Total Promoters and Their Close Relatives

2,078,303,297

20.47%

2,078,303,297

20.47%

Free Float in Units and Percentage

3,781,421,461

37.24%

3,781,421,461

37.24%

Free Float in Value

₦ 37,436,072,463.90

₦ 24,201,097,350.40

(A) Abbey Mortgage Bank Plc with a free float percentage of 37.24% as at 31 March 2026, is compliant with The Exchange's free float requirements for companies listed on the Main Board.

(B) Abbey Mortgage Bank Plc with a free float value of ₦37,436,072,463.90 as at 31 March 2026, is compliant with The Exchange's

free float requirements for companies listed on the Main Board.

3 Months

12 Months

Mar-26

Dec-25

₦'000

%

₦'000

%

Gross income 7,010,508

20,036,662

Interest expense (5,394,507)

(13,883,736)

1,616,001

6,152,926

Impairment charge

-

15,271

Brought-in-materials and services-local

(555,879)

(1,904,279)

Value added

1,060,122

100

4,263,919

100

Employee as wages, salaries and pensions

Income tax

246,103

23

903,798

21

35,053

3

960,511

23

Depreciation and amortisation

Profit/(Loss) for the period

63,734

6

234,697

6

715,232

67

2,164,910

51

Value added/ (consumed) 1,060,122

100

4,263,919

100

Value added / (consumed) represents the additional wealth which the company has been able to create by its

own and employees efforts . This statement shows the allocation of that wealth among the employees, shareholders, government and that retained for the future creation of more wealth.

This information is presented for the purpose of the requirements of the Companies and Allied Matters Act 2020

AS AT

Unaudited

Audited

31-Mar-26

31-Dec-25

31-Dec-24

31-Dec-23

31-Dec-22

Assets

₦'000

₦'000

₦'000

₦'000

₦'000

Cash on hand

37,922

29,823

15,297

37,987

26,501

Due from banks and other financial institutions

59,010,318

43,696,918

13,929,534

12,730,016

27,813,952

Cash balances with the Central Bank

1,020,000

1,020,000

1,020,000

766,369

629,891

Loans and advances

10,198,454

9,720,974

12,070,585

14,138,284

5,159,962

Financial investments - equity instrument at FVTPL

929,141

929,141

883,642

550,527

497,111

Financial Investments- securities at amortised cost

146,449,961

106,574,885

53,695,739

26,775,781

3,731,668

Other assets

2,547,705

1,649,829

841,999

1,072,504

554,320

Property and equipment

1,969,384

1,967,577

1,479,168

1,351,533

1,324,111

Intangible assets

231,928

239,648

270,246

73,990

65,466

Non-current assets held for sale

-

-

45,251

45,251

55,251

Total Assets

222,394,814

165,828,795

84,251,460

57,542,242

39,858,233

Liabilities and equity

Deposits from customers

119,539,661

79,630,911

53,900,757

40,049,606

27,627,752

Due to other banks

5,489,079

10,108,925

10,964,820

10,033

3,738,255

Current income tax liability

571,384

536,331

125,681

83,843

63,988

Other liabilities

1,125,148

704,171

661,834

540,871

414,670

Borrowings

7,441,452

4,912,536

5,068,555

3,998,567

-

Deposit for Shares

64,547,233

49,156,885

4,000,000

4,000,000

-

Deferred Tax Liability

470,870

470,869

35,077

-

-

Funds for On-lending

11,707,340

9,520,751

263,001

289,624

315,153

Equity

210,892,167

155,041,379

75,019,725

48,972,544

32,159,818

Share capital

5,076,923

5,076,923

5,076,923

5,076,923

5,076,923

Share premium

1,576,504

1,576,504

1,576,504

1,576,504

5,117,138

Retained earnings/(Accumulated losses)

3,143,321

2,428,088

1,127,762

623,525

(3,540,633)

Statutory reserve

1,119,318

1,119,318

686,335

472,697

298,440

Regulatory risk reserve

586,583

586,583

764,212

820,049

746,546

Total equity

11,502,648

10,787,416

9,231,736

8,569,699

7,698,414

Total liabilities and equity

222,394,814

165,828,795

84,251,460

57,542,242

39,858,233

Unaudited

Audited

3 Months

12 Months

12 Mths

12 Mths

12 Mths

31-Mar-26

31-Dec-25

31-Dec-24

31-Dec-23

31-Dec-22

₦'000

₦'000

₦'000

₦'000

₦'000

Total operating income

1,616,001

6,152,926

3,876,388

3,186,655

3,038,118

Allowances for loans and other assets

0

15,271

(84,200)

108,484

143,971

Operating expenses

(865,716)

(3,042,774)

(2,563,237)

(2,343,796)

(2,354,821)

(Loss) / profit before income tax

750,285

3,125,423

1,228,951

951,343

827,268

Income tax benefit / (expense)

(35,053)

(960,513)

(160,758)

(80,059)

(61,109)

(Loss) / profit for the year

715,232

2,164,910

1,068,193

871,285

766,160

Other comprehensive income

Other comprehensive income that will not be reclassified to profit or loss in subsequent period:

Reclassification of net loss to income statement

-

- - -

-

- - -

Total comprehensive (loss) / income for the year

715,232

2,164,910

1,068,193

871,285

766,160

Profit/(Loss) per share (Kobo)-Basic and diluted

28

21

11

9

8