LivingTrust Mortgage Bank Plc has clinched the prestigious Development Bank of Nigeria Innovation Award in the Other Financial Institution category for the financial year 2024.

In a statement on Monday, the award, presented by DBN, a development finance institution owned by the World Bank, African Development Bank, European Investment Bank, French Development Agency, and the Federal Government of Nigeria through the Ministry of Finance, recognises financial institutions that have demonstrated innovation and commitment to the growth of micro, small, and medium enterprises in Nigeria.

According to DBN, LivingTrust Mortgage Bank stood out in the OFI category for its remarkable contribution to MSME financing and innovative banking practices despite the tough macroeconomic environment in 2024.

“This award is a recognition of LivingTrust Mortgage Bank’s unwavering commitment to supporting MSMEs through innovative financial solutions that promote sustainable growth,” DBN said in a statement.

Reacting to the development, the Managing Director of LivingTrust Mortgage Bank, Adekunle Adewole, said, “We are honoured to receive this award from DBN. It affirms our commitment to innovation and inclusive finance, especially in empowering small businesses to thrive despite economic headwinds.”

He added that the recognition would further strengthen the bank’s resolve to scale its impact in the MSME space and contribute to Nigeria’s economic development.

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.