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The recently held 20th anniversary product exhibition of AG Mortgage Bank Plc (AGMB) showcased the lender’s resilience, steady growth and commitment to innovation over the past two decades, its Managing Director and Chief Executive Officer, Ngozi Anyogu, has said.
The bank used the milestone event to unveil plans to raise fresh capital aimed at scaling operations, strengthening its balance sheet and deepening support for Nigeria’s housing finance sector.
AGMB is seeking to raise N10 billion through a capital offering targeted at existing shareholders, strategic partners, institutional investors, high-net-worth individuals and development finance institutions.
“In September 2025, we proudly celebrated our 20th anniversary—two decades marked by unwavering dedication, impactful innovation, and transformative service to millions of Nigerians,” Anyogu said.
He noted that the anniversary celebration, held in Abuja, underscored the bank’s evolution into a trusted financial institution providing innovative mortgage solutions while playing a key role in driving economic growth and sustainable housing development in Nigeria.
Financially, the bank recorded improved performance in the 2024 financial year, with gross earnings rising by 7 percent year-on-year to N3.47 billion, while total assets grew to N22.36 billion, up from N21.1 billion in 2023. Shareholders’ funds also increased by 8 percent to N6.1 billion over the same period.
“From our inception, driven by a bold vision, AG Mortgage Bank Plc has evolved into a trusted institution synonymous with tailored financial solutions that meet the dynamic needs of individuals, businesses, and entire communities,” Anyogu added.
The event placed strong emphasis on the bank’s corporate values—Accountability, Godliness, Integrity, Teamwork, Respect, Innovation and Professionalism (AGITRIP)—while recognising AG Mortgage Bank as a pillar of hope and a catalyst for change within Nigeria’s mortgage sector. It also highlighted partnerships, including collaboration with Invest Africa, aimed at expanding the bank’s reach and impact in housing finance.
Key milestones celebrated at the anniversary included the bank’s growth from a single branch in 2005 to five branches, capital expansion from N200 million to N23 billion, and the financing of over 20,000 homes nationwide to help bridge Nigeria’s housing deficit.
The bank also reaffirmed its commitment to Project Momentum 2025–2030, which targets the creation of 300,000 mortgages, expansion of its customer base to one million, capital growth to N20 billion, and leadership in green and sustainable housing initiatives.
Held at The Continental Hotel, Abuja, the exhibition formed part of a grand celebration attended by industry leaders, regulators, shareholders, customers and other stakeholders. Activities included thanksgiving sessions, keynote addresses, award presentations, cultural performances reflecting Nigeria’s diversity, and the unveiling of more than 12 new products designed to meet the country’s evolving housing finance needs.
Among the newly launched offerings were Sustainability Products focused on green financing and ESG-aligned investments; Treasury Products for institutional investors and corporates; Flexible Loan Products aimed at improving credit access for households and businesses; and E-Business Products delivering seamless digital solutions for SMEs and entrepreneurs.
“These products exemplify our commitment to financial inclusion, innovation and sustainable national development,” Anyogu said.
“Our recent landmark product exhibition unveiled a suite of innovative offerings—ranging from treasury products designed for institutional investors, to Sustainability products supporting Nigeria’s green development aspirations, and digital-first E-Business solutions empowering SMEs and entrepreneurs,” he added.
Looking ahead, Anyogu said the bank’s future growth would be guided by its long-term strategy. “As we advance in 2025, we are firmly anchored by Project Momentum 2025–2030. This bold strategic blueprint guides our transformation into a diversified group structure encompassing mortgage finance, housing microfinance, development, insurance, brokerage and rental housing services. Among our ambitious goals are increasing shareholder value with a 20 percent return on equity, leading green sustainable housing initiatives, and significantly growing our customer base and loan portfolio.”
