Living Trust Mortgage Bank Plc has cemented its leadership position in the nation’s mortgage finance industry by winning five prestigious awards in a single month, the most by any mortgage lender in the same period.
The honours were given in recognition of the bank’s pioneering performance and innovative approach to mortgage financing, which has already exceeded its earnings forecast for the second quarter of this year by a whopping 14 percent.
Independent Newspapers Limited, the organizers of the Independent Finance Award (IFA), were the first to recognize LivingTrust Mortgage Bank’s unique and excellent performance. It beat all others to become the Mortgage Bank of the Year 2022.
Similarly, the bank’s Managing Director, Dr. Adewole Adekunle, was named Independent Mortgage Bank CEO of the Year 2022.
Profit after tax (PAT) growth, capital adequacy ratio, return on equity (ROE), return on assets (ROA), non-performing loans (NPL), net interest margin, penalties paid to the regulator, complaints resolution, the cost to income ratio, and dividend growth are among the parameters used to determine winners, according to the organizers.
Not content with this, the bank was named Africa’s Most Reliable Mortgage Bank Brand of the Year 2022 at the Africa Fintech Brands Innovation Awards.
In addition, the bank shone brightly at the Development Bank of Nigeria awards, demonstrating its unrivaled leadership position in the mortgage banking sub-sector.
The bank received the Other Financial Institution (OFI) Award for the Highest Impact on Start-ups and the OFI Award for the Highest Impact on MSME Accessing Credit for the First Time.
Reacting to the development in a statement by the bank, the Managing Director attributed the feat to “hard work, innovation, and the bank’s desire to reach the top.”
Living Trust Mortgage Bank, according to Adewole, reported a turnover of N1.19 billion in the first half of 2022, which went up by 79.19 percent from N664.09 million reported the previous year while profit before tax grew by 72.26 percent to N531.01m from N308.26m in 2021.
We are also working hard to enter the billionaires league by FYE 2022. We project a PBT of over N1b, a major feat in the Mortgage Banking sub-sector. As at the first half year of 2022, we had surpassed our earnings projections.
Last year we did N306 million in dividend pay-out. This year, all things being equal, we are looking at surpassing this, Adewole further disclosed.
