OPay’s H1 revenue rose 136.5% as lending income exceeded payments
The filing showed faster lending growth alongside higher credit-loss expenses, write-offs and overdue balances.
- Publish date: 2026-10-13
- Category: Standards & Policy
- Original source: Nairametrics (analysis of OPay SEC registration statement)
- Reading time: 1 min read
OPay’s SEC registration statement showed H1 2026 revenue of $467.06m, up 136.5% year on year, and net profit of $90.87m versus $21.71m in H1 2025. Loan income rose 167.9% to $236.12m, exceeding payment-service income of $130.55m; Nigeria accounted for about 85% of combined credit income. New loans issued in Nigeria were $927.63m versus $305.12m a year earlier, and quarterly unique borrowers rose from 3.5m to 6.7m. Expected credit-loss expenses rose 210.3% to $118.36m; OPay wrote off $113.15m in loans during H1. At June 30, $113.80m in loans and interest was overdue, equal to 27.4% of $415.33m outstanding.