Infinity Trust Mortgage Bank Plc has announced a profit before taxation of N262.4 million for the financial year ended December 31, 2015.
The bank also declared gross earnings of N755million indicating an increase of 1.75 per cent from N743million in 2014 to while total operating expenses increased by 10.5 per cent from N393million in 2014 to N434 million in 2015.
Chairman of the bank, Adeyinka Bibilari, while speaking at the bank’s 10th annual general meeting in Abuja, on Tuesday, May 10, described the bank’s performance as a feat in view of the harsh economic and operating environment.
He said: “Our strategies in terms of the aggressive mobilisation of customer deposits paid off even with the harsh environment with deposit growing from N1.1billion in 2014 to N1.4billion in 2015, an increase of 27 per cent.”
Our commitment and passionate attachment to increasing house owners led to our loan and advances also growing from N1.2 billion in 2014 to N1.7 billion in 2015, an increase of 41 per cent.
Total assets also grew from N7.2 billion in 2014 to N7.6 billion in 2015, a growth of 5.4 per cent over 2014. Our shareholders funds also grew from N5.5billion in the preceding year to N5.6billion in 2015,” the chairman said.
