Based on the Audited Financial Statement for the year ended December 31, 2024, LivingTrust Mortgage Bank Plc has once again made history, this time by declaring a profit N981.2 million, one of the highest in the Bank’s history.
In an increasingly challenging macroeconomic environment, marked by inflationary pressures, exchange rate volatility, and tighter regulatory oversight, this record profit stands as a testament to strategic resilience.
The Bank’s Board and management team have demonstrated commendable financial stewardship balancing risk, maintaining asset quality and driving profitability with a clear long-term view.
LivingTrust Mortgage Bank Plc grew deposit by 66% signifying the highest volume growth in the Bank’s history to N15.19bn from N9.14bn the previous year while total asset of the Bank increased to N24.04bn, a 35% growth over N17.79bn posted in 2023.
LivingTrust Mortgage Bank Plc has reported a 29.97 per cent increase in gross earnings for the year ended December 31, 2024, amounting to N3.75bn, compared to N2.89bn in the same period of 2023.
The bank’s record also shows a 47.40 per cent rise in Profit Before Tax, which increased to N981.20m from N665.65m in 2023. Profit After Tax grew by 38.87 per cent to N789.14m, up from N568.27m in the prior year.
The earnings per share for the period increased by 31.52 per cent to 15.78 kobo, from 11.37 kobo in 2023.
Beyond the numbers, this rewards the loyalty of the Bank’s esteemed customers and patience of shareholders who have stood by the Bank through cycles of growth, strategic clarity, disciplined execution and unwavering dedication to value creation. This level of profitability ensures that the culture of Shareholder reward continues in an increasing fashion, as declared dividend becomes payable upon approval.
