Based on the Audited Financial Statement for the year ended December 31, 2024, LivingTrust Mortgage Bank PLC has reached a milestone in mortgage banking by declaring a Profit Before Tax (PBT) of ₦981.2 million, which is one of the highest in the bank’s history.
In an increasingly-challenging macro-economic environment, marked by inflationary pressures, exchange rate volatility, and tighter regulatory oversight, the Profit Before Tax (PBT) record 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 N15.19 billion from N9.14 billion the previous year while total asset of the bank increased to N24.04 billion, recording a 35% growth over N17.79 billion posted in 2023.
LivingTrust Mortgage Bank PLC has reported a 29.97% increase in gross earnings for the year ended December 31, 2024, amounting to N3.75 billion compared to N2.89bn in the same period of 2023.
The bank’s also show a 47.40% rise in Profit Before Tax, which increased to N981.20 million from N665.65 million in 2023. Profit After Tax grew by 38.87% to N789.14 million up from N568.27 million in the prior year.
The earnings per share for the period increased by 31.52% 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.
