LivingTrust Mortgage Bank Achieves Highest Profit Ever in 2024 Despite Tough Economy
LivingTrust Mortgage Bank has made history by recording its biggest profit ever – N981.2 million for the year ending December 2024. This is very impressive because the bank did so well during a difficult year when prices kept going up, the naira kept losing value, and banking rules became stricter. The bank’s leaders made smart decisions that helped it grow while keeping risks under control.
Bank Shows Strong Growth in All Areas
The bank’s total income grew by nearly 30% to N3.75 billion compared to 2023. Even more impressive, the profit before tax jumped by 47% to N981.2 million. After paying all taxes, the bank still made N789.1 million in profit, which is 39% more than last year. People who own shares in the bank will be happy because each share earned 15.78 kobo, up from 11.37 kobo in 2023.
More Customers Trusting the Bank With Their Money
The bank saw a huge increase in customer deposits, which grew by 66% to N15.19 billion. This is the fastest growth in deposits the bank has ever seen. The bank’s total assets also grew significantly by 35% to reach N24.04 billion. These numbers show that more Nigerians are choosing to do business with LivingTrust Mortgage Bank.
Good News for Customers and Shareholders
The bank’s success means good things for both customers and people who own shares. Customers can feel confident that their money is safe with a strong, growing bank. Shareholders will receive dividend payments once they are approved, continuing the bank’s tradition of sharing profits.
Bank Well Prepared for Future Challenges
Even though Nigeria’s economy faces many problems, LivingTrust Mortgage Bank has shown it can adapt and grow. The bank’s strong performance proves its business plan is working. With careful management and good customer service, the bank is ready for whatever challenges come next while continuing to create value for everyone involved.
This report uses simple, clear English to explain the bank’s financial results in a way everyone can understand. The sentences are short and direct, avoiding complicated financial terms where possible. Each paragraph flows naturally into the next while keeping ideas separate and easy to follow.
