The bank said the performance represents a significant milestone in its growth journey, having achieved profitability within a relatively short period after commencing operations.
According to the bank, the result reflects the strength of its business model, strategic execution and growing acceptance in the Nigerian banking market.
Financial highlights released by the bank showed that customer deposits exceeded N103 billion within the period under review, while gross earnings stood at N13.1 billion. The bank also recorded a net interest margin of 67 per cent and maintained a non-performing loan ratio of zero per cent, underscoring the quality of its loan portfolio and risk management framework.
Alpha Morgan Bank attributed the performance to strong customer acquisition, rapid branch expansion and a deliberate strategy focused on growing low-cost demand deposits while building quality risk assets.
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The bank noted that its operational efficiency was supported by robust technology infrastructure, effective internal processes and the combined experience of its management team and board of directors.
Commenting on the result, the Managing Director of Alpha Morgan Bank, Ade Buraimo, described the achievement as a validation of the institution’s vision and capacity to execute its business strategy.
“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,” Buraimo said.
“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.”
The bank commenced operations in March 2025 after securing regulatory approval to operate 14 branches across Nigeria, a development it said provided a strong foundation for market penetration and customer engagement.
According to the bank, the early branch network, combined with disciplined execution and targeted growth initiatives, enabled it to gain momentum across several business segments within a short period.
Alpha Morgan Bank describes itself as a customer-focused commercial bank committed to delivering what it terms “Satisfying Banking” through innovative financial solutions and transparent service delivery.
The bank said its strategy is built around human-centred technology, customer-driven innovation and operational transparency. It added that it remains committed to developing products and services that respond to customer needs while supporting economic growth and financial inclusion.
With its strong debut performance, Alpha Morgan Bank said it is focused on sustaining growth, creating value for stakeholders and strengthening its position in Nigeria’s increasingly competitive banking industry.
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