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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

 

Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax of N1.9 billion in just 10 months of operations, a result that stands as a major milestone in Nigeria’s banking industry and reinforces the Bank’s 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 ₦103BN, gross earning of ₦13.1 billion, net interest margin of 67%, non-performing loan ratio of 0%.

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 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.”

 

 

 

About Alpha Morgan Bank

Alpha Morgan Bank is a customer-centric, innovative, and solutions-driven commercial bank, with a clear commitment to delivering “Satisfying Banking.”

Alpha Morgan Bank commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country. This early footprint, combined with disciplined market execution, has enabled the Bank to build momentum across key business segments in record time.

Alpha Morgan Bank focuses on:

  • Human-Centred Technology: Digital tools designed for intuitive, everyday relevance and not vanity metrics.
  • Transparent Operations: From pricing to service promises, every process is clear, accountable, and customer friendly.
  • Customer-Centric Innovation: Continuously developing solutions and services driven by customer insights to deliver meaningful value and enhance satisfaction.

More than a financial institution, Alpha Morgan Bank positions itself as a partner in progress. Its vision is to drive possibilities, enable dreams, and reemphasize what it means to experience Satisfying Banking in Nigeria.

More about Alpha Morgan Bank on www.alphamorganbank.com

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BREAKING: Crystal Palace Sack Pierre Sage After Just 16 Matches in Charge

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BREAKING: Crystal Palace Sack Pierre Sage After Just 16 Matches in Charge—-The Eagles dismiss the Frenchman after winning only two of their opening 10 Premier League matches, leaving the club bottom of the table following four consecutive league defeats.

Crystal Palace have officially sacked manager Pierre Sage following a disappointing start to the 2026/27 campaign, bringing his short spell at Selhurst Park to an end after just 16 matches.

The club confirmed the Frenchman’s departure on Thursday, November 12, less than five months after appointing him as Oliver Glasner’s successor in June.

Sage’s dismissal follows a disappointing run of results that has left Palace bottom of the Premier League table, with only seven points from their opening 10 matches.

In an official statement, Crystal Palace thanked Sage and his coaching staff for their efforts during their time at the club and wished them well for the future.

Three members of his backroom team, Jamal Alioui, Damien Della Santa and Sandy Guichard, have also left the club.

Poor Premier League Form Costs Sage His Job

Sage managed just two victories and one draw from his first 10 Premier League matches, with seven defeats leaving Palace in serious trouble.

His final match in charge was Sunday’s 3-1 home defeat against Liverpool at Selhurst Park, which extended the Eagles’ losing streak in the league to four matches.

Palace have also conceded 24 goals in their opening 10 league fixtures, giving them the worst defensive record in the division.

The disappointing run followed an earlier 5-0 defeat against Brighton, which intensified pressure on the Frenchman and raised questions about his ability to turn the club’s fortunes around.

Thomas Frank Emerges as Leading Replacement Candidate

Following Sage’s dismissal, former Tottenham Hotspur and Brentford manager Thomas Frank has emerged as the leading candidate to take over at Selhurst Park.

The Danish tactician was considered by Crystal Palace during their managerial search in the summer before the club eventually appointed Sage.

Frank remains without a club after being dismissed by Tottenham in February and could now be considered for another Premier League opportunity.

Former Everton manager Sean Dyche and Vítor Pereira have also been mentioned among the possible alternatives.

However, Crystal Palace have yet to officially announce Sage’s successor, stating that an update on the appointment process will be provided in due course.

A Disappointing End to Sage’s Premier League Adventure

Sage arrived at Crystal Palace with an impressive reputation after his successful spell at French club Lens, where he helped the team achieve significant domestic success.

His appointment was expected to provide continuity following Glasner’s departure, but the results have failed to meet expectations.

The Frenchman now leaves Selhurst Park after only 16 matches, with Palace facing the challenge of finding a replacement capable of lifting the club away from the bottom of the Premier League table.

The Eagles are scheduled to return to league action against Coventry City on November 21, giving the club an opportunity to make a managerial appointment during the international break.

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BREAKING: Manchester United Sack Michael Carrick After Just 10 Premier League Matches

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BREAKING: Manchester United Sack Michael Carrick After Just 10 Premier League Matches—The Red Devils part ways with their head coach following a disastrous start to the 2026/27 campaign that has left the club in the Premier League relegation zone.

Manchester United have officially relieved Michael Carrick of his duties as first-team head coach following a disappointing start to the 2026/27 Premier League season.

The decision, announced on Thursday, November 12, comes after United managed just one victory in their opening 10 league matches, leaving the Old Trafford side 18th in the standings with eight points.

Carrick’s dismissal follows a disappointing run of results that has placed the club in serious danger of slipping further into the relegation battle.

According to reports, the club’s hierarchy concluded that a managerial change was necessary after reviewing the team’s performances and results.

Poor Results Cost Carrick His Job

Manchester United’s difficult campaign has been characterised by inconsistent performances, defensive problems and an inability to secure victories.

The team’s disappointing run included a 2-0 defeat against Chelsea and a 3-0 home loss to Bournemouth, before a dramatic 4-4 draw against Aston Villa in Carrick’s final match.

Despite recovering from two goals down to claim a point against Villa, the result was insufficient to convince the club’s decision-makers to retain the former midfielder.

United have recorded just three victories in 15 matches across all competitions under Carrick this season, with only one coming in the Premier League.

From Champions League Qualification to Relegation Trouble

Carrick’s departure represents a dramatic turnaround from his successful initial spell at Old Trafford.

Appointed in January 2026 following Ruben Amorim’s dismissal, the former Manchester United midfielder made an immediate impact, guiding the club to a third-place Premier League finish and Champions League qualification.

His impressive results earned him a permanent contract in May, running until 2028.

However, the momentum from last season failed to carry into the new campaign, with United struggling to reproduce the performances that had initially secured Carrick’s position.

Mauricio Pochettino Linked With Manchester United Job

Following Carrick’s dismissal, former Tottenham Hotspur, Chelsea and Paris Saint-Germain manager Mauricio Pochettino has emerged as the leading candidate to take over at Old Trafford.

Reports from Sky Sports indicate that Manchester United have reached an agreement with the current United States national team coach, although arrangements surrounding his departure from the national team remain to be completed.

The club has stated that it intends to appoint a permanent successor as quickly as possible.

Another Managerial Change at Old Trafford

Carrick becomes the latest manager to depart Manchester United since Sir Alex Ferguson’s retirement in 2013.

His dismissal once again raises questions about the club’s managerial stability and its continued struggle to establish a consistent direction.

For Carrick, the departure marks a disappointing end to a tenure that began with considerable promise but ultimately unravelled after a disastrous start to the new season.

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