ABBEY MORTGAGE BANK : QUARTER 3 - FINANCIAL STATEMENT FOR 2022

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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 SEPTEMBER, 2022

CONDENSED REPORTS

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ABBEY MORTGAGE BANK PLC
REPORT FOR THE PERIOD ENDED 30 SEPTEMBER, 2022
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	40
Five-Year Financial Summary	41

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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 September 2022. 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
N3,998.73 million	N771.48 million	N617.19 million

MAJOR INCOME STATEMENT ITEMS	2022	2021	INCREASED/
	September	September	(DECREASED)
	N'000	N'000	%
Gross Earnings	3,998,730	2,663,226	50.15
Net Operating Income	2,048,239	1,563,347	31.02
Profit Before Tax	771,482	592,847	30.13
Profit After Tax	617,186	474,278	30.13
EarningsPer Share:
-Basic(Kobo)	8.10	6.69	21.12
MAJOR STATEMENT OF FINANCIAL POSITION ITEMS	2022	2021	INCREASED/
	September	December	(DECREASED)
	N'000	N'000	%
Loans and advances to customers	5,126,044	6,161,141	(16.80)
Deposits from customers	33,275,246	21,276,904	56.39
Total Assets	44,102,480	34,460,433	27.98
Total Equity	7,549,440	6,932,254	8.90

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ABBEY MORTGAGE BANK PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30 SEPTEMBER, 2022

		UNAUDITED	UNAUDITED	UNAUDITED	UNAUDITED
		9 Months	3 Months	9 Months	3 Months
		Sep-22	Sep-22	Sep-21	Sep-21
	Notes	₦'000	₦'000	₦'000	₦'000
Interest income	3	3,513,475	1,319,473	2,397,779	1,009,613
Interest expense	4	(1,950,491)	(722,089)	(1,099,879)	(507,275)
Net interest income		1,562,984	597,384	1,297,900	502,338
Fees and commision income	5	355,173	148,592	48,858	13,228
(Loss)/profit on disposal of non-current assets held for sale		2,000	-	660	1,200.00
Other operating income	6	128,082	65,666	215,929	99,530
Total operating income		2,048,239	811,642	1,563,347	616,296
Credit loss expense	7	-	-	-	-
Net operating income		2,048,239	811,642	1,563,347	616,296
Personnel expenses	8	(415,055)	(148,213)	(372,761)	(123,748)
Depreciation	9	(74,167)	(31,705)	(52,242)	(18,555)
Amortisation	21	(3,489)	(1,173)	(3,393)	(1,075)
Other operating expenses	10	(784,046)	(301,713)	(542,104)	(198,689)
Total operating expenses		(1,276,757)	(482,804)	(970,500)	(342,067)
Profit or (Loss) before income tax expense		771,482	328,838	592,847	274,229
Income tax expense	11	(154,296)	(65,768)	(118,569)	(45,612)
Profit or (Loss) for the period		617,186	263,070	474,278	228,617
Other comprehensive Income		-	-	-	-
Total comprehensive Income for the year net of tax		617,186	263,070	474,278	228,617
Earnings per share attributable to ordinary equity holders	12	8.10	10.36	6.69	14.15
(Kobo) - Basic and Diluted

The accompanying notes form part of these financial statements.

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