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Alpha Morgan Bank reports N1.9bn PBT, breaks even in first 10 months of operation
Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax (PBT) of N1.9 billion in under 10 months of operations.
It would be recalled that Alpha Morgan Bank commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country.
According to the bank, the development stands as a major milestone in Nigeria’s banking industry and reinforces its emergence as one of the country’s most remarkable new-generation financial institutions.
With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.
The bank’s strong debut performance was supported by robust growth across key financial and operating indicators. Highlights of the 10-month financial statement include customer deposit of over N103 billion gross earnings of N13.1 billion, net interest margin of 67 per cent, non-performing loan ratio of 0 per cent.
The performance was driven largely by strong synergy in customer acquisition and branch expansion, a deliberate focus on growth in demand deposits, creation of quality risk assets and balance sheet efficiency.
These achievements were further supported by robust operational processes powered by sound technology and systems, management depth and expertise, experience and strategic oversight provided by the bank’s Board.
Speaking on the performance, the Group Managing Director, Ade Buraimo, described the result as a significant validation of the bank’s vision, business model and execution capacity.
“This is more than a financial milestone; it is a strong statement of what is possible when vision, discipline, sound execution, and market opportunity come together.
“From inception, Alpha Morgan Bank was built to be a commercial bank that is solution-driven and committed to delivering value at scale.
“To record a PBT of N1.9 billion in our first 10 months of operations is both historic and deeply encouraging. It reflects the dedication of our people, the trust of our customers and the solid foundation we have laid for long-term growth,” Buraimo said.
