Abbey Mortgage Bank has introduced that VFD Group Plc, its largest shareholder, offered 400,828,935 items of the bank’s shares value over N2.72 billion.
The transaction was disclosed in a submitting on the Nigerian Alternate (NGX), signed by the corporate’s secretary, Geoff Amaghereonu, and executed in Lagos.
In response to the discover, the shares have been offered on September 17, 2025, at a mean value of N6.80 per share below the identification code NGABBEY00001.
- Earlier than the sale, VFD Group Plc held 3,835,181,810 unusual shares of the bank, representing a 37.77% stake.
- Following the divestment, its holdings now stand at 3,434,352,875 items, equal to 33.84%.
Regardless of the discount, VFD stays the bank’s largest shareholder, with Madonna Ashib Comm. Enterprise Ltd in second place at 14.23%.
This deal comes amid Abbey’s stellar efficiency in 2025 thus far, with the refill 192.05% year-to-date and buying and selling quantity at 524.48 million shares, a rally that will have prompted VFD’s share sale as a part of profit-taking.
Market pattern
Abbey Mortgage Bank opened 2025 at N2.41 per share, closing each month within the first quarter on a optimistic notice and ending March at N3.67, a robust Q1 achieve of 57.67%.
Optimistic momentum accelerated in April, with intense bullish exercise driving market quantity to 11.43 million shares because the inventory crossed the N8 mark for the primary time, delivering a robust 126% rally.
- Nevertheless, the surge was adopted by a pointy correction in Might, because the inventory shed 32.77% and retreated to N5.60, a degree that seemingly attracted dip-buying traders.
From June via August, Abbey regained stability, closing every month greater and settling at N6.50 by the top of August.
To date in September, the inventory has superior to N6.80 with market quantity surpassing 401 million shares.
- This surge in participation has made 2025 one of many bank’s most liquid years on document.
April’s explosive rally was seemingly sparked by investor response to the bank’s FY 2024 outcomes, launched on March 27, which confirmed a pre-tax revenue of N1.2 billion, up from N951.3 million in 2023. The bank has additionally maintained profitability in 2025.
H1 2025 efficiency
Within the first half of 2025, Abbey Mortgage Bank reported a pre-tax revenue of N850.4 million, up 51.83% from N560.1 million, pushed by sturdy top-line development.
Curiosity revenue rose 61.62% to N7.8 billion, with money and short-term funds contributing the majority at N5.2 billion, whereas each loans & advances and curiosity from funding securities added N1.2 billion every.
- Regardless of incurring curiosity bills of N5.8 billion, internet curiosity revenue got here in at N1.94 billion.
The bank earned N185.6 million from charges and commissions, a 47.68% improve, whereas internet working revenue climbed to N2.2 billion from N1.7 billion.
On the stability sheet aspect, complete property grew 30.81% to N110.2 billion, whereas retained earnings superior 17.80% to N1.3 billion.
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