LivingTrust Mortgage Bank Plc, owned by the Osun State Government, has made history by announcing a ₦981.2 million profit, a record figure in the bank’s history.
The impressive profit was declared by the Audited Financial Statement for the year ended December 31, 2024, despite the increasingly difficult macroeconomic environment the bank regularly contends with.
Amid all kinds of inflationary struggles, exchange rate volatility, and stricter regulatory oversight, the proof of sustained profitability further reiterates the fact that LivingTrust Mortgage Bank Plc will always be respected for its strategic development.
The financial institution’s board and management team have been earning lots of praise for their impressive financial strides while retaining asset quality and aiding profitability with an effective long-term view.
The bank’s deposit grew by 66%, indicating the highest volume growth the company has ever experienced, N9.14bn to N15.19bn, its total asset increased to N24.04bn, signifying a 35% growth, after the N17.79bn figure recorded in 2023, and its gross earnings increased by 29.97% for the year ended December 31, 2024, amounting to N3.75bn, compared to N2.89bn in 2023.
LivingTrust Mortgage Bank Plc has an unchangeable vision to continue to be the foremost mortgage bank that enables sustainable housing in the Nigerian market. Its main focus is to guarantee customer satisfaction by offering effective performance leveraging tech and a dedicated team.
The firm sees the provision of homes as a divine calling, and they continually aim to design products that make mortgage available to all kinds of income earners, thereby providing the average Nigerian with a safe and secure home.
The main responsibility of the bank is the provision of mortgage financing and Real Estate Construction finance to individuals, groups and corporate entities. LivingTrust Bank has made its mark in the country’s housing market by significantly decreasing housing deficits via advancing residential mortgage loans to several Nigerians.
The institution has been responsible for the financing of various estate development projects across several Nigerian states and it constantly offers mortgage loans to average and low-income earners to acquire residential houses in both urban and semi-rural areas.
Driving mortgage inclusion is a key strategic focus for the bank, so it was no surprise when Central Bank of Nigeria gave its approval for the firm to participate as a financial institution in MSME funding.
And since the CBN approval, Livingtrust Mortgage Bank Plc has disbursed loan facilities to more than 620 small businesses across different Nigerian regions.
Folami David writes on trends and pop culture. He is a creative writer, and he is passionate about music and football.
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