Infinity Trust Mortgage Bank Plc (ITMB) has reported a 51 per cent rise in gross earnings for the 2024 financial year, hitting N4.3 billion.
Ngozi Chukwu, acting Managing Director, disclosed this during the company’s 19th Annual General Meeting (AGM), where shareholders gathered to assess the bank’s progress and future outlook.
The meeting, which convened key shareholders and stakeholders, offered a platform to review the bank’s performance and strategic direction.
Several key resolutions were passed, including the declaration of a 21 kobo per share dividend, a 44 per cent increase from the previous year the re-election of directors, and the appointment of members to the audit committee.
A major highlight of the AGM was the formal introduction of Ngozi Chukwu as the new acting Managing Director/CEO of the bank.
In her address, Okwa Ene Iyana, the bank’s chairman, described the year’s performance as a testament to ITMB’s resilience in the face of economic headwinds such as inflation, currency devaluation, insecurity, and political instability.
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She noted that profit before tax rose by 43 per cent to N1.722 billion, while shareholders’ funds grew by 17 per cent.
Looking ahead, Iyana said the bank would continue to adapt to regulatory changes, deepen its digital transformation, and expand its footprint in mortgage finance all in a bid to create long-term value.
Chukwu, in her first AGM appearance as acting MD/CEO, stressed ITMB’s dedication to innovation and transparency.
“Hosting our AGM virtually has allowed us to engage more efficiently with shareholders while promoting inclusivity and accessibility,” she said.
The bank also celebrated a recent sustainability award from the Development Bank of Nigeria (DBN), recognising its commitment to environmental, social, and governance (ESG) practices.
The award positions ITMB as a leader in responsible mortgage banking, further strengthening its reputation in sustainable finance and inclusive banking.
