The Managing Director/Chief Executive Officer of AG Mortgage Bank Plc, Mr. Ngozi Anyogu, has received the Excellence in Mortgage Banking and Housing Finance Award at the Mortgage Banking Association of Nigeria (MBAN) Annual Conference held in November 2026.
The award recognises his professional leadership and contributions to mortgage finance delivery and the advancement of homeownership in Nigeria, reinforcing the importance of experienced leadership in strengthening the country's housing finance sector.
Under his leadership, AG Mortgage Bank continues to strengthen its institutional position through strategic growth, innovative mortgage solutions, sound corporate governance and partnerships that support the development of the housing finance market.
The Bank's recent performance reflects this growth trajectory, with total assets increasing by 48% to ₦33 billion. Its ₦3.97 billion Commercial Paper issuance under Series 2 and 3 also achieved 100% subscription, demonstrating its successful participation in Nigeria's debt capital market.
With over 3,000 households supported, AG Mortgage Bank remains committed to expanding access to homeownership while contributing to the development of a more inclusive and sustainable mortgage finance ecosystem.
As Nigeria's housing market continues to present opportunities for investment, funding and strategic collaboration, the Bank is focused on strengthening institutional capacity and building partnerships with local and international stakeholders to unlock value across the sector.
For AG Mortgage Bank, this recognition extends beyond an individual achievement. It reflects the leadership, institutional growth and strategic ambition driving the Bank's contribution to Nigeria's evolving housing finance landscape.
AG Mortgage Bank’s Credit Ratings Highlight Financial Progress and Strategic Growth Potential
AG Mortgage Bank Plc continues to strengthen its position in Nigeria’s mortgage finance sector, with independent credit assessments from Global Credit Rating (GCR) and Agusto & Co. providing insight into the Bank’s financial position, funding structure and strategic direction.
In its October 2026 assessment, GCR Ratings AG Mortgage Bank’s national scale ratings at BB+(NG) Long-Term and B(NG) Short-Term, with an Evolving outlook. Separately, Agusto & Co. upgraded the Bank’s long-term rating from Bb to Bbb- and assigned an A3 short-term rating, with a Stable outlook. Together, the assessments recognise the Bank’s established industry presence, funding and liquidity position, while highlighting areas requiring sustained improvement.
A key factor supporting the Bank’s credit profile is its access to diversified funding sources, including development finance institutions and concessionary funding facilities. The introduction of the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) has further strengthened funding opportunities within the mortgage banking sector. AG Mortgage Bank also maintains strategic relationships with the Federal Mortgage Bank of Nigeria (FMBN) and Family Homes Funds Limited (FHFL), supporting its participation in the National Housing Fund and Help to Own programmes.
The Bank’s financial performance reflects a period of business expansion. As at December 2025, total assets increased to ₦33.04 billion, from ₦22.37 billion in the previous year, while gross loans and advances grew by 44% to ₦24.15 billion. Profit before tax also rose significantly to ₦1.4 billion, compared with ₦731 million in 2024. These figures reflect the Bank’s expanding mortgage portfolio and efforts to deepen its contribution to housing finance.
Beyond financial growth, the assessments recognise progress in the Bank’s liquidity position and ongoing efforts to strengthen its risk management framework. Notably, its non-performing loan ratio declined from 19.6% at the end of 2025 to 9.3% by June 2026, reflecting intensified recovery efforts and improved loan monitoring. Sustaining this progress remains important to strengthening asset quality and supporting long-term financial stability.
Looking ahead, AG Mortgage Bank’s five year transformational plan, Project Momentum, is focused on expanding its financial services offerings, improving digital delivery and deepening access to mortgage finance. Initiatives such as the planned Kwik Mortgage platform, Church App and Savings App are designed to enhance customer onboarding, improve service delivery and support deposit mobilisation. The Bank is also strengthening collaboration with real estate developers to advance sustainable housing, with 245 energy-efficient housing units delivered in Masaka, Nasarawa, in 2025.
As Nigeria continues to address its housing deficit and the need for accessible, long-term housing finance, institutions with sustainable funding structures, sound governance and adaptable business models will remain important to the sector’s development. AG Mortgage Bank is focused on building on its more than two decades of industry experience, strengthening its financial and operational capacity, and pursuing strategic partnerships that support inclusive housing opportunities.
The independent credit assessments represent important reference points in the Bank’s institutional journey. More importantly, they reinforce the need for continued progress in capital strength, asset quality, funding diversification and innovation as AG Mortgage Bank works towards its ambition of becoming a more diversified and technology-driven financial institution.