# 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.

- **Source date:** 2026-10-13
- **Original source:** [Nairametrics (analysis of OPay SEC registration statement)](https://nairametrics.com/2026/10/13/opay-earns-more-from-lending-than-payments-as-profit-hits-90-9-million/)
- **Reading time:** 1 min read
- **Language:** English
- **URL:** https://voltformer.com/news/ng-opay-h1-2026-lending-dominates-payments-20261013
- **Markdown:** https://voltformer.com/news/ng-opay-h1-2026-lending-dominates-payments-20261013.md

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.

[Nairametrics (analysis of OPay SEC registration statement)](https://nairametrics.com/2026/10/13/opay-earns-more-from-lending-than-payments-as-profit-hits-90-9-million/)

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