OPay Limited reported a profit of $90.87 million for the first half of 2026, a significant increase from $21.71 million in the same period last year. Revenue rose by 136.5% to $467.06 million, primarily driven by a surge in lending activities. Lending income now accounts for 50.6% of total revenue, outpacing the growth of the firm’s payment services. While the expansion into credit has boosted top-line growth, the company faces rising credit risks, with expected credit-loss expenses jumping 210.3% to $118.36 million. OPay, which is preparing for a US listing and a secondary listing in Nigeria, is currently adjusting its credit strategy to prioritize lower-risk merchant loans to manage these rising losses.