*Invites MSMEs, SMEs to come for mortgage loans
WorldStage Newsonline– Infinity Trust Mortgage Bank PLC, one of the leading and most capitalized Primary Mortgage Banks in Nigeria has become a participating Financial Institution by the Development Bank of Nigeria (DBN) to access up to N2.7 billon for on lending to its customers.
The bank which has increased its shareholders’ funds from less than N50 million in 2003, to over N6billion in a note to the Nigerian Stock Exchange (NSE) said the DBN deal was in line with its vision of deepening mortgage penetration and inclusion.
The Managing Director/CEO, Dr. Olabanjo Obaleye, while reacting to the development noted that the new partnership with the Development Bank of Nigeria (DBN) was one of the key strategic drives of the bank to expand its product offerings to those in the MSMEs sector particularly as they constitute over 90%o of enterprises in the country.
“It will help us reach many more customers that are self-employed and those in the MSME space that want to purchase commercial properties like shop and offices. This will also improve financial inclusion for mortgage products,” he said.
He therefore, appealed to those in the MSMEs sector and small corporate who are interested in accessing a mortgage loans to build and purchase residential or commercial properties to visit any of its office locations for thorough guidance and necessary approval.
He said, “Shelter is one of the basic human needs, this is why we are passionate about providing needed mortgage loan to deserving Nigerians particularly those in the MSMEs sector to purchase properties, this will further broaden the mortgage penetration depth in the Nigerian market, as we speak we have simplified our processes in such a way that a mortgage loan can be disbursed within three days to an individual, giving that the applicant meets all the mandatory requirements. We have streamlined our processes and incorporate the use of technology which has made the disbursement of loan to individuals so fast, making us the leading primary mortgage bank in Nigeria which is reflected in our financial results.
“ The bank has consistently demonstrated strong brand by maintaining consistent profitability over the years and operating resilience through strong regulatory entity and service ratings. The results are also indicative of the proactive leadership and versatile management of the bank in maintaining key performance indicators despite the global impact of the pandemic.”
