Lagos Building Investment Company Plc
The Lagos Building Investment Company Plc has reported strong financial performance, posting a 43 per cent rise in profit before tax to N1.655 billion for the year ended December 31, 2025.
Chairman of the Board, Hakeem Ogunniran, announced the results at the company’s 21st Annual General Meeting in Lagos, describing the growth as evidence of resilience amid challenging economic conditions.
Shareholders also approved a capital raise, increasing the firm’s issued share capital from N3.882 billion to N4.4 billion through the creation of additional ordinary shares to strengthen its financial base.
The company recorded a 41 per cent increase in gross earnings to N3.565 billion, while its mortgage portfolio surged by 161 per cent, reflecting stronger demand for housing finance.
Customer deposits also rose by 17 per cent to N13.314 billion.
Total assets now stand at N20.614 billion, with shareholders’ funds at N5.431 billion and a capital adequacy ratio of 37 per cent, indicating strong financial stability.
The board proposed a dividend payout of N0.068 per share, amounting to N263.979 million, as reward to investors. Notably, the firm maintained a zero per cent non-performing loan ratio, underscoring strong risk management.
Managing Director, Olusola Faleye, said the performance was driven by disciplined execution and strategic reforms. He added that the company is accelerating digital transformation, including upgrades to its core banking system and development of mobile and internet banking platforms with biometric security and real-time services.
Looking ahead, LBIC plans to expand mortgage lending, improve deposit mobilisation, and strengthen technology-driven operations to support sustainable growth.
Lagos State Governor, Babajide Sanwo-Olu, commended the company’s role in addressing housing challenges, noting that housing finance remains a key driver of economic development and urban growth.
