ABBEY MORTGAGE BANK : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

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ABBEY MORTGAGE BANK PLC Head Office: 23, Karimu Kotun Street, Victoria Island, Lagos.

Tel: [phone]

eMail: [e-mail] Website: www.abbeymortgagebank.com TIN: 01334740-0001

ABBEY MORTGAGE BANK PLC

LAGOS, NIGERIA

UNAUDITED IFRS FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE, 2023

CONDENSED REPORTS

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ABBEY MORTGAGE BANK PLC
REPORT FOR THE PERIOD ENDED 30 JUNE, 2023
CONTENTS	Page
Introduction	3
Result at a Glance	4
Statement of Profit or Loss and Other Comprehensive Income	5
Statement of Financial Position	6
Statement of Changes in Equity	7
Statement of Cash Flows	8
Statement of Regulatory Risk Reserve	9
Notes to the Financial Statements	10
Statement of Value Added	39
Five-Year Financial Summary	40

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ABBEY MORTGAGE BANK PLC

Introduction

Abbey Mortgage Bank's Financial Statements complies with the applicable legal requirements of the Nigerian Securities and Exchange Commission regarding interim financial statements for the period ended 30 June 2023. These financial statements contain extract of the unaudited financial statements prepared in accordance with 'Internarional Financial Reporting Standards' and its interpretation issued by the International Accounting Standards and adopted by the Financial Reporting Council of Nigeria. For better understanding, certain disclosures and some prior period figures have been presented in line with the reporting periods' figures. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

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ABBEY MORTGAGE BANK PLC

RESULT AT A GLANCE

GROSS EARNINGS	PROFIT BEFORE TAX	PROFIT AFTER TAX
N3,162.94 million	N380.01 million	N323.01 million

MAJOR INCOME STATEMENT ITEMS	2023	2022	INCREASED/
	June	June	(DECREASED)
	N'000	N'000	%
Gross Earnings	3,162,937	2,462,999	28.42
Net Operating Income	1,271,043	1,156,597	9.90
Profit Before Tax	380,014	442,644	(14.15)
Profit After Tax	323,012	378,920	(14.75)
EarningsPer Share:
-Basic(Kobo)	6.36	6.56	(3.07)
MAJOR STATEMENT OF FINANCIAL POSITION ITEMS	2023	2022	INCREASED/
	June	December	(DECREASED)
	N'000	N'000	%
Loans and advances to customers	10,635,570	5,159,962	106.12
Deposits from customers	33,247,018	27,627,752	20.34
Total Assets	47,689,798	39,858,233	19.65
Total Equity	8,021,425	7,698,414	4.20

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ABBEY MORTGAGE BANK PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30 JUNE, 2023

	UNAUDITED	UNAUDITED	UNAUDITED	UNAUDITED
	6 Months	3 Months	6 Months	3 Months
	Jun-23	Jun-23	Jun-22	Jun-22
Notes	₦'000	₦'000	₦'000	₦'000

Interest income	3
Interest expense	4
Net interest income
Fees and commision income	5
(Loss)/profit on disposal of non-current assets held for sale
Other operating income	6
Total operating income
Credit loss expense	7
Net operating income
Personnel expenses	8
Depreciation	9
Amortisation	21
Other operating expenses	10
Total operating expenses
Profit or (Loss) before income tax expense
Income tax expense	11

Profit or (Loss) for the period

Other comprehensive Income

Total comprehensive Income for the year net of tax

3,042,696	1,745,348	2,194,002	1,220,682
(1,891,894)	(1,089,364)	(1,308,402)	(763,268)
1,150,802	655,984	885,600	457,414
69,044	52,965	206,581	165,208
-	-	2,000	-
51,197	26,931	62,416	46,413
1,271,043	735,880	1,156,597	669,035
-	-	-	-
1,271,043	735,880	1,156,597	669,035
(334,955)	(176,684)	(266,842)	(142,287)
(74,094)	(37,811)	(58,462)	(38,169)
(4,711)	(2,342)	(2,316)	(1,172)
(477,269)	(260,411)	(386,333)	(173,670)
(891,029)	(477,248)	(713,953)	(355,298)
380,014	258,632	442,644	313,737
(57,002)	(51,726)	(63,724)	(48,493)
323,012	206,906	378,920	265,244
-	-	-	-
323,012	206,906	378,920	265,244

Earnings per share attributable to ordinary equity holders	12	6.36	6.25	6.56	6.15
(Kobo) - Basic and Diluted

The accompanying notes form part of these financial statements.

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