LivingTrust Mortgage Bank Plc has declared a profit of N981.2 million, one of the highest in the Bank’s history.
The bank grew deposits by 66% to N15.19bn from N9.14bn the previous year, while the total assets of the Bank increased to N24.04bn, a 35% growth over N17.79bn posted in 2023.
It 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 showed 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.