WorldStage– Infinity Trust Mortgage Bank Plc has released its unaudited interim financial statements for the nine months ended September 30, 2026, showcasing robust double-digit growth across key income lines and cementing its trajectory within Nigeria’s mortgage banking sub-sector.
The financial report reveals an expanding balance sheet and resilient earnings, drawing strong interest from market analysts and equity investors tracking primary mortgage institutions (PMIs) on the Nigerian Exchange (NGX).
Key Financial Highlights (9M 2026 vs. 9M 2025)
Turnover: N6.49 billion, up 41.51% year-on-year (YoY) from N4.58 billion.
Interest & Similar Income: N5.89 billion, representing a 54.71% surge from N3.80 billion.
Profit Before Tax (PBT): N2.76 billion, a 26.94% increase compared to N2.18 billion in the corresponding period of 2025.
Profit After Tax (PAT): N2.61 billion, compared to N2.09 billion reported in 9M 2025.
Earnings Per Share (EPS): Up 24.82% to 81.97 kobo (vs. 65.67 kobo in 9M 2025).
Total Assets: Expanded by 44.66% to N54.87 billion from N37.93 billion.
Revenue Drivers: Mortgage Lending and Treasury Operations Spearhead Growth
The bank’s top-line expansion was heavily anchored by stellar performance in core interest-generating assets. Interest and similar income climbed to N5.89 billion, propelled by:
Other Mortgage Loans & Advances: Surged to N4.16 billion (up from N2.57 billion in 9M 2025).
Treasury Operations & Placements: Contributed N1.07 billion, marking an increase from N787.60 million.
Estate Mortgage Income: Grew notably to N565.51 million compared to N335.51 million in the preceding year.
Even though interest and similar expenses rose to N2.19 billion (driven by higher customer deposits and increased funding costs on debt issued and other borrowed funds), the bank’s Net Interest Income still advanced by 43.55% to settle at N3.70 billion.
Balance Sheet Expansion and Credit Portfolio
Infinity Trust Mortgage Bank’s total assets crossed the mid-century mark to reach N54.87 billion, demonstrating aggressive balance sheet deployment.
Loans and Advances: Grew by 46.48% to close at N36.69 billion (up from N25.05 billion in September 2025), highlighting the institution’s ongoing commitment to housing finance expansion.
Liquidity Position: Cash and cash equivalents grew healthily by 60.42% to N10.72 billion, supported by robust placements with banks totaling N9.28 billion.
Borrowings: Debt issued and other borrowed funds (including facilities from FMBN, the Nigeria Mortgage Refinance Company, and the Development Bank of Nigeria) moved up to N26.87 billion to back long-term mortgage assets.
Analyst Perspective & Investor Outlook
For equity investors, Infinity Trust Mortgage Bank continues to present a compelling narrative of asset growth and consistent profitability in a high-inflation, tightening monetary environment.
However, analysts note a few structural points worth monitoring:
Operating Cost Pressures: Total operating expenses grew by 29.17% to N1.46 billion, driven by general administrative overheads, marketing, and staff costs.
Free Float Compliance Notice: The financial statement explicitly discloses that the bank’s free float percentage stood at 10.85% as of September 2026—below the exchange’s minimum listing requirements for companies on the Main Board. Investors will be watching for potential capitalization or share-restructuring moves by major shareholders (such as Engr. Adeyinka Bibilari and Adkan Services) to address the free float shortfall.
Overall, with an annualized earnings profile pointing toward a strong finish for FY 2026, Infinity Trust Mortgage Bank remains a resilient play for portfolios targeting real estate exposure and steady dividend yields on the NGX.
