LivingTrust Mortgage Bank Plc has posted a profit after tax of N551.28m for the half year ended June 30, representing a 30.1 per cent increase from the N423.65m recorded in the same period of 2024.
The unaudited financial results released to the Nigerian Exchange Limited recently showed that gross earnings rose to N3.02bn in H1 2025 from N1.75bn recorded in the corresponding period of 2024, driven largely by growth in interest income, fees, commissions, and treasury operations.
Interest and similar income increased by 47 per cent to N2.05bn from N1.40bn in H1 2024, while interest expense surged to N1.58bn from N585.66m, reflecting the rising cost of funds in the period. Net interest income stood at N463.62m compared to N809.65m in the previous year.
The bank also recorded fee and commission income of N86.88m, up from N40.27m in the same period last year. Other operating income more than doubled to N543m from N285m, while income from treasury bills rose sharply to N342.79m from N31.69m, reflecting improved investment strategies and market conditions.
Total operating income increased to N1.44bn from N1.17bn in H1 2024. Despite higher impairment charges of N4.53m, compared to N125m in the prior period, the bank maintained strong bottom-line performance.
Personnel expenses rose to N334.57m from N256.84m, while other operating expenses climbed to N475.20m from N304.46m, reflecting inflationary pressure and operational expansion. After accounting for a tax expenOKse of N11.25m, the bank posted a profit after tax of N551.28m, with earnings per share rising to 11.03 kobo from 8.47 kobo recorded in the same period last year.
From a balance sheet perspective, total assets rose to N28.88bn, up from N24.05bn recorded at year-end 2024. This growth was driven by a 25 per cent increase in loans and advances to customers, which rose from N14.02bn to N17.57bn.
Customer deposits also grew significantly to N19.42bn, up from N15.19bn at the end of 2024, highlighting increased investor confidence and deposit mobilisation efforts. Total liabilities stood at N23.83bn, while shareholders’ equity remained stable at N5.05bn.
The bank generated N3.65bn in net cash from operating activities during the half-year period, supported by strong inflows from customer deposits and loan repayments. Cash and cash equivalents as of June 30, 2025, stood at N8.67bn, compared to N5.53bn recorded in the same period of 2024.
The PUNCH reported that LivingTrust Mortgage Bank Plc has declared a profit of N981.2m, one of the highest in the bank’s history. This was disclosed in its audited financial statement for the year ended December 31, 2024.
