Infinity Trust Mortgage Bank Posts N323.14m PAT

Infinity Trust Mortgage Bank Plc has declared N323.14 million net profit in its half year results for the period ended June 30, 2022.

The bank, in its results released on the Nigerian Exchange (NGX) Limited, showed that profit after grew by 7.7 per cent from N300.1 million reported in half year ended June 30, 2021 to N323.14 million in 2022.

Also, profit before tax rose by 6.6 per cent to N340.6million in H1 2022 from N319.55million reported in H1 2021, while earnings per share recorded by the group grew by nearly nine per cent to 13.48 kobo achieved in H1 2022 from 12.38 kobo achieved in the H1 2021.

RELATED

Tariff Reforms Slashed Subsidy By N1.1trn – Adelabu

4 hours ago

Trump’s Tariffs Threaten Nigeria’s N323.96bn Non-oil, Non-energy Exports To U.S.

4 hours ago

Obviously, the growth in profits was driven by 16 per cent increase in turnover to N909.21million in H1 2022 from N785.48 million reported in H1 2021. The company’s total assets hit N16.741 billion as against N15.003 billion.

The managing director/CEO of Infinity Trust Mortgage Bank, Sunday Clumorin stated that, the bank would be ahead of changing trends to deliver value to all stakeholders.

According to him, we will continue to explore opportunities and develop products that would deepen mortgage penetration.

Clumorin further said the bank would focus on entrenching the suitable structures and creating an agile and solution minded team capable of driving the vision and mission of the bank.

He said: “we have strategy of becoming the most dominant mortgage bank in Nigeria, we have begun the implementation of new strategies that would increase our customers acquisition while improving the number home owners in the country through our flexible mortgage products.”