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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: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day

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BREAKING: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day—-Cityzens have reached a British record-equalling agreement with Chelsea for the Argentina international on Deadline Day, with Fernández set to undergo his medical.

Manchester City have agreed a £125 million deal with Chelsea to sign Enzo Fernández in one of the biggest transfers of Deadline Day.

The agreement, reported by Sky Sports and other leading outlets, will see the Argentina international leave Stamford Bridge for the Etihad Stadium in a move that matches the British transfer record previously set by Liverpool’s £125m signing of Alexander Isak.

Fernández is expected to undergo his medical before completing the transfer, with City working against the clock to finalise the deal before the summer transfer window closes.

Maresca Reunites With Fernández

The move will see Fernández reunite with Enzo Maresca, who previously coached him at Chelsea and is now Manchester City’s manager.

Maresca is understood to have been a major driving force behind City’s pursuit of the midfielder as he looks to reshape his squad and strengthen the centre of midfield.

Fernández played an important role during Maresca’s time at Stamford Bridge, helping Chelsea win major silverware before the Italian manager’s move to Manchester.

Chelsea Accept Record Fee

Chelsea signed Fernández from Benfica in January 2023 for approximately £107 million, making him one of the most expensive players in Premier League history at the time.

Just over three years later, Chelsea have agreed to sell the 25-year-old for £125 million, representing a significant return on their original investment.

The Argentine had recently been left out of Chelsea’s squad for successive matches, increasing speculation that his Stamford Bridge future was coming to an end.

City Make Deadline-Day Statement

Manchester City had been pursuing Fernández for much of the summer, but negotiations intensified dramatically as the transfer deadline approached.

Chelsea had previously valued their midfielder at around £120 million and had initially expected him to remain at the club after an earlier deadline for bids passed without a formal offer. However, City’s interest never disappeared, and the two clubs eventually found an agreement on Deadline Day.

The final £125 million package now puts Fernández level with the British transfer record.

Fernández Begins New Chapter

For Fernández, the transfer brings an end to a turbulent period at Chelsea and opens a new chapter under a manager he already knows.

The World Cup-winning midfielder arrived in England with enormous expectations after starring for Argentina and Benfica.

At Manchester City, he will be expected to become a central figure in Maresca’s midfield and help the club compete on multiple fronts.

A Record-Breaking Transfer

The £125 million agreement places Fernández among the most expensive players in football history and makes the Deadline Day transfer one of the biggest stories of the summer window.

City are now racing to complete the remaining formalities, including the medical, before the deadline.

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BREAKING: Tottenham Agree Double Deal With Chelsea for Mudryk and Tosin

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BREAKING: Tottenham Agree Double Deal With Chelsea for Mudryk and Tosin—-Spurs reach agreement with Chelsea for Mykhailo Mudryk and Tosin Adarabioyo, with Mudryk arriving on loan with a £75m option to buy and Tosin joining permanently.

Tottenham Hotspur have struck a double agreement with Chelsea to sign Mykhailo Mudryk and Tosin Adarabioyo as the north London club makes a late push to strengthen its squad.

The deal will see Mudryk join Tottenham on a season-long loan, while the Ukrainian winger’s agreement includes a £75 million option to buy at the end of the loan spell.

Importantly, the £75m clause is not mandatory, meaning Tottenham will have the choice to make Mudryk’s move permanent rather than being obliged to complete the purchase.

Meanwhile, defender Tosin Adarabioyo is set to leave Chelsea on a permanent transfer after the two clubs reached an agreement over his move.

Mudryk Gets Chance to Revive Career

Mudryk’s temporary switch to Tottenham provides the 25-year-old with an opportunity to rebuild his career after a difficult period at Stamford Bridge.

The winger arrived at Chelsea with huge expectations but has struggled to establish himself as a consistent first-team player.

His move to Tottenham could give him regular playing time and the chance to demonstrate the qualities that made him one of Europe’s most highly rated young attackers before his move to England.

The presence of Roberto De Zerbi could also prove important. The Tottenham manager is familiar with Mudryk from their time together at Shakhtar Donetsk and is understood to have played a role in Spurs’ decision to pursue the winger.

£75m Option Gives Spurs Flexibility

A major feature of the agreement is the £75m purchase option included in Mudryk’s loan deal.

Tottenham will not be required to pay the £75m at the end of the season.

Instead, the club will be able to assess Mudryk’s performances throughout the campaign before deciding whether to trigger the option and make his move permanent.

That arrangement gives Spurs flexibility while allowing Mudryk an entire season to prove that he can become a long-term asset for the club.

Tosin Set for Permanent Tottenham Move

While Mudryk’s future will remain open until the end of his loan spell, Tosin is expected to make a permanent move to Tottenham.

The centre-back has agreed personal terms with Spurs and is set to complete the remaining formalities before his transfer is finalised.

Tosin’s departure brings an end to his spell at Chelsea, where competition for places in defence has made regular first-team opportunities increasingly difficult to secure.

Tottenham view the experienced defender as an important addition to their defensive options.

Tottenham Complete Late Chelsea Double Swoop

The agreement represents a significant piece of late transfer-window business for Tottenham.

Spurs have moved quickly to secure both players as they look to strengthen their squad and provide De Zerbi with additional options for the new campaign.

Mudryk’s arrival could add pace and attacking width to Tottenham’s frontline, while Tosin provides additional quality and experience in defence.

With the clubs now having reached agreements, attention turns to completing the remaining formalities and medicals before the transfer window closes.

The Deal at a Glance

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