Infinity Trust Mortgage Bank Plc, one of the leading and most capitalized Primary Mortgage institutions in Nigeria turned out a very impressive half year 2019 result.
The Bank that has maintained an unbroken record of consistent dividend payment to its shareholders for nine years running was also able to grow its Profit Before Tax by over 63% as at June 2019.
Here are the highlights of the result as released by Infinity Trust Mortgage Bank Plc to the Nigerian Stock Exchange (NSE)
- Turnover increased by 45% from N461m in June 2018 to N668m in June 2019.
- Net Interest Income also grew by 39% from N292m in June 2018 to N407m in June 2019.
- Net Fee and Commission grew by 97% from N27m in June 2018 to N54m in June 2019.
- Other Operating Income grew by 20% from N98m in half year 2018 to N117m same period 2019.
- Net Operating Income also grew by 38% from N414m in mid year 2018 to N573m same period in 2019.
- Profit Before Tax grew significantly by 63% from N150m in June 2018 to N245m in same period in 2019.
- The worth of shareholders of Infinity Trust Mortgage Bank also increased as earning per share grew by 35% from N6.76k in half year 2018 to N9.13k in 2019 half year.
Infinity Trust Mortgage Bank Plc was rated by Global Risk Rating (GCR) BB+ credit rating with positive in the long term and A3 with positive outlook in the short term for the 2015 rating year based on its 2014 financials.
The bank was so rated due to improvement in its competitive capacity, brand perception. Corporate governance practices and robust financial performance.
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