WorldStage Newsonline– Livingtrust Mortgage Bank Plc formerly Omoluabi Mortgage Bank plc, one of the quoted mortgage banks in Nigeria has released its audited financial statements for the year ended December 31st 2021 with profit after taxation rising by 283% to N506.961 million from N132.359 million in 2020.
The Bank closed the 2021 financial year with a Profit-Before-Tax of N686,609,197 representing a staggering 217.53% increase when compared against the previous year while gross earnings increase by 149% to N1.628 billion from N652.616 million in 2020.
The report showed that Total assets grew by 82.10% (year-on-year) to N11,348,023,258, while Loans and Advances grew remarkably by 89.98% to N7,760,011,125. Deposits grew by 127.64% to N7,227,306,053.
As a result, the earnings per share of the bank grew by 255.25% to N11.47, compared to N3.23 in the previous year.
