Omoluabi Mortgage Bank Plc is the 2018 multiple award winning Mortgage financial institution. The bank won the Nigerian Entrepreneur Award 2018 ‘mortgage bank of the year’; the Pearl Award’s ‘2018, sectorial leadership in financial services -Mortgage company’ and the Business Day’s Banking and Financial Institution award – Mortgage bank of the year 2018′.
In the recently released 2019 Quarter 1 Report, Omoluabi Mortgage Bank reported a 13 percent drop in its Profit After Tax for end of quarter 1, 2019. Here are the highlights of the report
- Interest income grew by 94 percent from N21.8m in Q1, 2018 to N42.3m in Q1, 2019
- Fee income dropped by 61 percent from N16.2m in Q1, 2018 to N6.3m in Q1, 2019
- PBT dropped by 13 percent to N33.3m from N38.1m in Q1, 2018.
- The Bank’s Assets also dropped but marginally by 5 percent to N4.0b from N4.2b in Q1, 2018.
- Loans and Advances to customers also dropped marginally 1.2 percent to N1.54b in Q1, 2019
- Total equity however grew marginally 1.3 percent to N2.62b in Q1, 2019.