Custodian Investment Plc reported a pre-tax profit of N66.20 billion for the nine months ended September 30, 2026, representing a 25.52% increase from N52.74 billion in the corresponding period of 2025.<\/p>\n
Also, the unaudited results show that in Q3 2026, pre-tax profit increased by 3.68% to N23.08 billion from N22.26 billion in Q3 2025.<\/p>\n
The investment holding company\u2019s gross revenue increased by 46.92% to N255.41 billion, while profit after tax rose by 26.17% to N57.59 billion, supported by higher interest income and improved insurance service results.<\/p>\n
\n\n
- Gross revenue: N255.41 billion (Up 46.92% YoY from N173.85 billion).<\/li>\n
- Insurance service revenue: N115.85 billion (Down 4.81% YoY from N121.71 billion).<\/li>\n
- Interest income: N110.14 billion (Up 232.01% YoY from N33.17 billion).<\/li>\n
- Fees and commission: N16.58 billion (Up 156.05% YoY from N6.48 billion).<\/li>\n
- Insurance service results: N17.65 billion (Up 43.87% YoY from N12.27 billion).<\/li>\n
- EPS: 827 kobo (Up 8.96% YoY from 759 kobo).<\/li>\n
- Management expenses: N29.95 billion (Up 119.41% YoY from N13.65 billion)<\/li>\n
- Total assets: N1.40 trillion (Up 31.33% from N1.06 trillion).<\/li>\n
- Cash and cash equivalents: N193.81 billion (Up 11.27% from N174.18 billion).<\/li>\n
- Total equity: N276.16 billion (Up 26.36% from N218.55 billion).<\/li>\n<\/ul>\n<\/blockquote>\n
Driving the numbers<\/strong><\/h4>\n
Custodian Investment\u2019s nine-month performance was driven largely by higher investment earnings and improved insurance service profitability, although rising management expenses and insurance financing costs weighed earnings.<\/p>\n
\n
- Gross revenue increased by 46.92% to N255.41 billion, with interest income emerging as a major contributor.<\/li>\n
- Interest income surged by 232.01% to N110.14 billion from N33.17 billion, accounting for approximately 43.12% of gross revenue.<\/li>\n<\/ul>\n
Fees and commission income also increased significantly to N16.58 billion from N6.48 billion, while sales revenue rose by 6.28% to N10.30 billion.<\/p>\n
\n
- However, insurance service revenue declined by 4.81% to N115.85 billion from N121.71 billion.<\/li>\n<\/ul>\n
Despite the decline, the group\u2019s insurance service results improved by 43.87% to N17.65 billion, supported by lower insurance service expenses.<\/p>\n
\n
- Insurance service expenses declined by 17.70% to N58.63 billion from N71.24 billion, while net expenses from reinsurance contracts increased to N39.57 billion from N38.21 billion.<\/li>\n<\/ul>\n
The improvement in underwriting-related profitability was partly offset by higher insurance financing expenses.<\/p>\n
\n
- Net insurance finance expenses increased by 73.72% to N39.39 billion from N22.68 billion, adding pressure to earnings.<\/li>\n
- Management expenses also more than doubled to N29.95 billion from N13.65 billion, representing an increase of 119.41%.<\/li>\n<\/ul>\n
Meanwhile, the investment result increased to N123.45 billion from N82.39 billion, reflecting stronger investment-related earnings.<\/p>\n
These movements supported a 25.52% increase in pre-tax profit to N66.20 billion, despite higher operating costs.<\/p>\n
\n
- Profit after tax consequently increased by 26.17% to N57.59 billion, although earnings per share grew more slowly, rising by 8.96% to 827 kobo.<\/li>\n<\/ul>\n
Balance sheet<\/strong><\/h4>\n
On the balance sheet, total assets increased by 31.33% to N1.40 trillion as of September 2026, from N1.06 trillion at December 2025, driven primarily by growth in financial assets and loans and advances to customers.<\/p>\n
\n
- Financial assets increased to N754.43 billion from N596.52 billion, while loans and advances rose to N247.85 billion from N130.79 billion.<\/li>\n
- Customer balances also increased, with amounts due to customers reaching N375.07 billion from N242.19 billion.<\/li>\n
- Insurance contract liabilities increased to N338.84 billion from N270.90 billion, reflecting higher insurance-related obligations.<\/li>\n<\/ul>\n
However, operating cash flow weakened, with the group recording a net operating cash outflow of N27.03 billion, compared with an inflow of N26.81 billion in the corresponding period of 2025.<\/p>\n
\n
- Net investing cash inflow amounted to N57.17 billion, helping support the increase in cash balances to N193.81 billion.<\/li>\n<\/ul>\n
Market reaction<\/strong><\/h4>\n
Custodian Investment shares closed at N64.70 on October 29, 2026. The stock had gained 50.5% year-to-date from its opening price of N43.00, reflecting a positive share-price performance in 2026.<\/p>\n
Source: <\/p>\n
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