ABBEY MORTGAGE BANK : QUARTER 4 - 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 31 DECEMBER, 2022

CONDENSED REPORTS

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ABBEY MORTGAGE BANK PLC
REPORT FOR THE PERIOD ENDED 31 DECEMBER, 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	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 31 December 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
N5,852.81 million	N830.44 million	N664.35 million

MAJOR INCOME STATEMENT ITEMS	2022	2021	INCREASED/
	December	December	(DECREASED)
	N'000	N'000	%
Gross Earnings	5,852,812	3,688,713	58.67
Net Operating Income	2,759,699	2,179,321	26.63
Profit Before Tax	830,438	661,063	25.62
Profit After Tax	664,350	622,198	6.77
EarningsPer Share:
-Basic(Kobo)	6.54	6.13	6.77
MAJOR STATEMENT OF FINANCIAL POSITION ITEMS	2022	2021	INCREASED/
	December	December	(DECREASED)
	N'000	N'000	%
Loans and advances to customers	5,098,907	6,161,141	(17.24)
Deposits from customers	27,627,757	21,276,904	29.85
Total Assets	39,812,268	34,460,433	15.53
Total Equity	7,596,604	6,932,254	9.58

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ABBEY MORTGAGE BANK PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31 DECEMBER, 2022

	UNAUDITED	UNAUDITED	AUDITED	UNAUDITED
	12 Months	3 Months	12 Months	3 Months
	Dec-22	Dec-22	Dec-21	Dec-21
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

4,855,589	1,342,114	3,314,252	916,473
(2,805,414)	(854,923)	(1,683,943)	(584,064)
2,050,175	487,191	1,630,309	332,409
712,476	357,303	135,291	86,433
4,973	2,973	(5,570)	(6,230)
279,774	151,692	239,170	23,241
3,047,398	999,159	1,999,201	435,853
(287,699)	(287,699)	180,120	180,120

Net operating income		2,759,699	711,460	2,179,321	615,973
Personnel expenses	8	(639,365)	(224,310)	(590,425)	(217,664)
Depreciation	9	(108,150)	(33,983)	(71,754)	(19,512)
Amortisation	21	(5,063)	(1,574)	(4,613)	(1,220)
Other operating expenses	10	(1,176,683)	(392,637)	(851,466)	(309,362)
Total operating expenses		(1,929,261)	(652,504)	(1,518,258)	(547,758)
Profit or (Loss) before income tax expense		830,438	58,956	661,063	68,215
Income tax expense	11	(166,088)	(11,791)	(38,865)	(33,198)
Profit or (Loss) for the period		664,350	47,165	622,198	35,017
Other comprehensive Income		-	-	-	-
Total comprehensive Income for the year net of tax		664,350	47,165	622,198	35,017
Earnings per share attributable to ordinary equity holders	12
6.54	1.86	6.13
(Kobo) - Basic and Diluted

The accompanying notes form part of these financial statements.

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