Shareholders of Infinity Trust Mortgage Bank Plc at their 14th Annual General Meeting held yesterday approved 3.5kobo dividend per share for 2019 financial year.

The bank’s Head, Corporate Communication and Brand Support, Akinwale Ishola, stated that the AGM, which took place at the bank’s head office, was held in adherence with social distancing rules and directives of the Federal Government.

The bank’s audited accounts showed a 37.6% rise in gross earnings from N 1.005 billion in 2018 to 1.383 billion in 2019. The bank also recorded 40% growth in its loan portfolio from 3.802 billion in 2018 to 5.338 billion in 2019.

It showed a 21.2%  increase in profit before tax from 366.8 billion in 2018 to 444.4 million in 2019, while the bank’s total assets grew by 3% from N10.351 billion in 2018 to N10.644 billion in 2019.

The bank’s chairman, Dr. Adeyinka Bibilari, said he was satisfied with the reports, noting that they were a true reflection of the performance of the bank during the 2019 financial year.

The Managing Director, Dr. Olabanjo Obaleye, maintained that the bank’s improved performance was as a result of the zeal and commitment towards excellence of the Board, management and staff.

He reiterated that the Bank has been a pace setter for other mortgage Banks in Nigeria and will continue to innovate products that will make mortgage accessible to those yearning to own their homes.

The post Infinity Mortgage Bank shareholders to get N3.5k/share dividend appeared first on Daily Trust.

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