Lagos Mortgage Firm Posts 43% Profit Growth
Lagos Building Investment Company Plc has reported a 43 per cent surge in profit before tax for the 2025 financial year, signalling renewed momentum in its mortgage lending operations.
The Lagos-based lender grew its profit to ₦1.65 billion, up from ₦1.16 billion in the previous year, driven largely by tighter cost controls and a deliberate focus on expanding its mortgage offerings in a competitive market.
At the heart of this performance is a rapid expansion of its loan book. The company’s mortgage portfolio more than doubled within a year, rising from ₦794 million in 2024 to ₦2.07 billion in 2025. Even more notable is the absence of impairments on its loan assets—an indication of improved risk management and stronger borrower quality despite economic headwinds.
Revenue growth also remained robust. Gross earnings climbed by 41 per cent to ₦3.56 billion, while customer deposits increased to ₦13.31 billion, reflecting growing confidence among clients. The firm’s balance sheet strengthened further, with total assets reaching ₦20.61 billion and shareholders’ funds standing at ₦5.43 billion.
Management credits the performance to a focused strategy built around mortgage origination and partnerships within Lagos’ property market. By aligning with developers and financing housing projects, the institution has widened its income base while reinforcing its role in addressing the state’s housing deficit.
Looking ahead, the company is positioning for sustained expansion. Early signals from its 2026 financial year outlook suggest continued growth, supported by capital strengthening efforts and a steady pipeline of mortgage-backed projects.
The results underscore a gradual transformation within Nigeria’s mortgage industry, where disciplined lending models and strategic collaborations are beginning to unlock value in a sector long constrained by limited access to housing finance.
