Infinity Trust Mortgage Bank posts N2.76bn pre-tax profit, up 27% in nine months
- Infinity Trust Mortgage Bank's pre-tax profit rose 27% to N2.76 billion in the first nine months of 2026.
- Turnover climbed 41.5% to N6.49 billion on stronger mortgage lending and treasury income.
- Borrowing costs rose faster than income, and the bank recorded a N6.59 billion operating cash outflow.
Infinity Trust Mortgage Bank Plc make pre-tax profit of N2.76 billion from January to September 2026, up 26.94% from N2.18 billion for same period last year, according to its unaudited financial statements.
Profit after tax rise 24.95% to N2.61 billion, while turnover grow 41.51% to N6.49 billion from N4.58 billion. The bank talk say stronger interest income from mortgage lending and treasury operations na im push the growth.
For ordinary Nigerians, the numbers matter because the bank na one of the lenders wey dey finance home loans, including through the National Housing Fund. Bigger loan book mean more money dey go out to borrowers, but e also mean say the bank dey lean more on borrowed funds to keep lending.
Where the money come from
Interest and similar income rise 54.71% to N5.89 billion from N3.80 billion. Other mortgage loans and advances to customers bring in N4.16 billion, up from N2.57 billion, and e make up about 70.6% of total interest income.
Estate mortgage income climb to N565.51 million from N335.51 million, and treasury operations and placements earn N1.07 billion, up from N787.60 million. Income from National Housing Fund loans, however, fall to N96.80 million from N109.53 million.
The cost of funding that lending rise faster than the income. Interest and similar expenses jump 78.18% to N2.19 billion from N1.23 billion, with N1.53 billion of that tied to debt and other borrowed funds, up from N651.63 million.
Net interest income still rise 43.55% to N3.70 billion. But fees and commissions fall 18.79% to N159.29 million, and other operating income drop 24.22% to N442.46 million.
Operating expenses rise 29.17% to N1.46 billion, yet the growth in net interest income enough to lift profit.
Bigger balance sheet, and more borrowing
Total assets grow 44.66% to N54.87 billion from N37.93 billion. Loans and advances to customers rise 46.48% to N36.69 billion, and cash and cash equivalents climb 60.42% to N10.72 billion.
Debt issued and other borrowed funds increase by N12.57 billion to N26.87 billion from N14.31 billion. The bank list funding from the Nigeria Mortgage Refinance Company, the Development Bank of Nigeria, the Federal Mortgage Bank of Nigeria and the MRIEF on-lending fund.
The bank record net operating cash outflow of N5.80 billion, compared with N4.47 billion a year earlier, mainly because lending absorb N6.59 billion. Net borrowed funds of N7.99 billion help offset that, and cash and cash equivalents end the period up N2.71 billion.
Earnings per share rise 24.82% to 81.97 kobo from 65.67 kobo.
The two outlets wey report on the shares give different figures. Nairametrics talk say the stock close at N11.25 on Monday, 26 October 2026, up from N7.00 at the start of the year, a gain of 60.71%. BusinessDay also put the price at N11.25 but report year-to-date return of 221.43% and market capitalisation of N93.8 billion. The sources no explain the gap between the two return figures.
What happens next: The sources no talk when the bank go release its full-year results or pay dividend. Investors go dey watch whether borrowing costs go keep rising faster than lending income, and whether the loan book go continue to grow at this pace.
