Lecon Finance Limited has reported a remarkable 215% increase in profit after tax for the financial year ended December 31, 2025, while simultaneously growing its total assets to N33.1 billion. The company also secured top-tier credit ratings from both Agusto & Co. and DataPro, underscoring its strengthened financial position and operational efficiency.
Profit and Asset Growth
The finance firm's profit after tax surged to N3.2 billion, up from N1.0 billion in the previous year, representing a 215% year-on-year growth. Total assets expanded by 38% to N33.1 billion, driven by strategic investments and an increase in customer deposits. Shareholders' funds also rose significantly, reaching N12.5 billion, a 34% increase from N9.3 billion in 2024.
Credit Rating Achievements
Agusto & Co. upgraded Lecon Finance's long-term credit rating to 'A-' with a stable outlook, citing the company's strong capital adequacy, improved asset quality, and consistent profitability. Similarly, DataPro assigned an 'A' rating, reflecting the firm's robust risk management framework and solid market position. According to Agusto & Co., the rating 'reflects the company's strong capitalisation, good asset quality, and improved earnings profile.'
Strategic Initiatives and Outlook
Managing Director of Lecon Finance, Mr. Adebayo Ogunlesi, attributed the stellar performance to the company's focus on digital transformation and customer-centric solutions. 'Our investment in technology and innovative products has enabled us to deepen financial inclusion and drive sustainable growth,' he stated. The company plans to leverage its enhanced capital base to expand into new markets and offer more diversified financial services.
Industry Context
The achievement comes amid a challenging economic environment in Nigeria, characterized by high inflation and currency volatility. Lecon Finance's ability to grow profits and assets while maintaining a strong credit profile positions it as a resilient player in the non-banking financial sector. The firm's loan book also grew by 40% to N18.5 billion, with non-performing loans remaining below the industry average of 5%.
Future Plans
Looking ahead, Lecon Finance aims to further strengthen its capital base and explore opportunities in asset management and investment banking. The company also plans to enhance its digital platforms to improve customer experience and operational efficiency. With the new credit ratings, Lecon Finance expects to access cheaper funding sources, which will support its expansion strategy.
