VFD Group nearly doubles profit to ₦13bn in nine months, assets hit ₦577bn
VFD Group's profit after tax surged 97% to ₦13 billion for the first nine months of 2026, nearly doubling from ₦6.6 billion a year earlier, driven by a 34.8% jump in gross earnings to ₦81.9 billion. The investment firm's net investment income climbed 58.8% to ₦72.2 billion, while operating profit rose to ₦58.5 billion, pushing EBITDA margin to 71.5%.
Finance costs remained a pressure point, soaring 35.7% to ₦43.3 billion on higher borrowing costs. Despite this, profit before tax jumped 91.9% to ₦15.3 billion. On the balance sheet, total assets grew 29.6% to ₦577.6 billion and equity nearly doubled to ₦130 billion, with return on equity improving to 10%.
VFD Group invests pooled institutional capital across a diverse portfolio including Abbey Bank, VerifyMe, Nigerian Exchange Group, and Veritas Kapital Assurance, with recent expansion targeting foreign equity investors in sub-Saharan Africa, the UK, and US.
For investors tracking Nigerian financial services, VFD's growth trajectory signals strong portfolio performance, though rising finance costs warrant monitoring. The firm's expanding geographic footprint could diversify risk but introduces new regulatory and currency considerations.
Will VFD sustain this momentum as borrowing costs pressure margins, or will portfolio diversification into foreign markets offset domestic headwinds?