NPF Microfinance Bank Plc has posted a profit before tax of N3.20 billion for the six months ended June 30, 2026, representing an increase of 7.70 per cent from N2.97 billion recorded in the corresponding period of 2025.

According to the unaudited financial statements filed with the Nigerian Exchange on July 24, 2026, the bank’s profit after tax rose by 5.68 per cent to N2.04 billion in the first half of 2026, from N1.93 billion in the same period of 2025.

Basic and diluted earnings per share also increased by 6.25 per cent to 34 kobo, from 32 kobo in the corresponding period of 2025.

The improvement in earnings was supported by a 25.15 per cent increase in interest income to N10.18 billion. Interest income accounted for about 91 per cent of the bank’s gross earnings of N11.18 billion, although the impact was partly moderated by a 121.19 per cent increase in interest expense and higher operating costs.

Gross earnings stood at N11.18 billion, up 21.17 per cent year-on-year from N9.23 billion.

Interest income rose to N10.18 billion, up 25.15 per cent year-on-year from N8.14 billion.

Interest expense climbed to N1.35 billion, up 121.19 per cent year-on-year from N610.17 million.

Net interest income increased to N8.83 billion, up 17.36 per cent year-on-year from N7.53 billion.

Fees and commission income declined to N985.60 million, down 9.55 per cent year-on-year from N1.09 billion.

Revenue rose to N9.82 billion, up 13.96 per cent year-on-year from N8.62 billion.

Total assets grew to N61.70 billion, up 15.86 per cent from N53.26 billion.

Cash and cash equivalents fell to N4.12 billion, down 58.03 per cent from N9.82 billion.

Shareholders’ funds increased to N14.621 billion, up 13.37 per cent from N12.896 billion.

The bank’s performance in the first half of 2026 was driven largely by strong growth in gross earnings and revenue.

Revenue increased by 13.96 per cent to N9.82 billion, driven mainly by stronger interest-based earnings.

Net interest income rose by 17.36 per cent to N8.83 billion, accounting for about 89.96 per cent of reported revenue during the period.

Interest income increased by 25.15 per cent to N10.18 billion, reflecting stronger income from the bank’s interest-earning activities.

However, interest expenses rose much faster, increasing by 121.19 per cent to N1.35 billion. This significantly higher funding cost limited the impact of the rise in interest income, causing net interest income to grow more slowly than gross interest income.

Fees and commission income declined by 9.55 per cent to N985.60 million, contributing about 10.04 per cent of revenue.

The decline weakened the contribution of non-interest income and left the bank more dependent on interest earnings.

Operating costs also increased during the period. Personnel expenses rose by 11.89 per cent to N2.82 billion, while other operating expenses increased by 18.22 per cent to N3.38 billion.

Depreciation rose by 43.58 per cent to N380.22 million, while amortisation of intangible assets increased to N47.19 million from N261,000.

The combination of higher funding costs and rising operating expenses meant that profit growth lagged behind revenue growth.

Profit before tax increased by 7.70 per cent, compared with the 13.96 per cent increase in revenue.

Profit after tax grew more slowly, rising by 5.68 per cent to N2.04 billion, as income tax expense increased by 11.50 per cent to N1.15 billion.

On the balance sheet, loans and advances to customers increased by 33.29 per cent to N48.13 billion, accounting for 78.01 per cent of total assets.

The expansion in the loan book was the main driver of the 15.86 per cent growth in total assets to N61.70 billion.

Cash and cash equivalents declined by 58.03 per cent to N4.12 billion, while other assets rose by 71.84 per cent to N1.52 billion.

Total liabilities increased by 16.66 per cent to N47.08 billion, slightly ahead of the 13.37 per cent growth in shareholders’ equity to N14.62 billion.

Customer deposits increased by 11.02 per cent to N38.74 billion. However, borrowings rose sharply to N2.34 billion from N327.17 million, representing an increase of 616.10 per cent.

NPF Microfinance Bank’s shares closed at N5.10 on Friday, July 24, 2026. The stock has gained 37.47 per cent year-to-date, rising from N3.71 at the start of the year and ranking 64th on the NGX by year-to-date performance.

The share price rallied to N5.74 in May 2026 after strong gains earlier in the year, before giving up part of those gains in June with a 17.25 per cent monthly decline to N4.75.

The stock recovered some of its losses in July, rising 7.37 per cent month-to-date to N5.10.