TrustBond Mortgage posts N1.4 billion gross earnings

Adeniyi Akinlusi is the President, Mortgage Banking Association of Nigeria (MBAN) and Chief Executive Officer, TrustBond Mortgage Bank Plc.

Amid harsh operating environment, TrustBond Mortgage Bank Plc has posted gross earnings of N1.41 billion in its 2016 operations, against N1.14 billion recorded in the corresponding period of 2015.

Reviewing its performance during the company’s eighth yearly general meeting, in Lagos recently, the Chairman of the bank, Etigwe Uwa explained that the bank’s profit after tax and other comprehensive income rose from N26.28 million in 2015 to N143.6 million during the period under review.

According to him, the percentage increase in gross earnings is 24 per cent, while profit also grew by 446 per cent. The company’s total assets stood at N12.416 billion, representing 19 per cent rise when compared N10.022 billion posted in the previous year.

He added that customer deposits also increased to N2.319 billion, a 10 per cent growth over N2.108 recorded in 2015. Uwa, who expressed optimism that the firm is well positioned to leverage emerging opportunities in the industry, assured stakeholders that the company would continue to grow its core mortgage banking businesses to ensure continuous contributions to home ownership in Nigeria.

He added that the company would also strive to remain in fore front of market development as well as make the firm a foremost bramnd in the industry.

The Managing Director of the company, Adeniyi Akinlusi, said the company was poised to moving beyond its traditional role as enablers of home ownership to Nigeria and providers of real estate solutions to playing a significant role in the digital and commercial space for enhanced business growth.
 
“Our growing relationship with the secondary mortgage market institutions stands us in good stead to continue to access more long term funds to fund our mortgage portfolio.
 
“We would continue to grow our business and at the same time, reduce our operating cost to weather the storm of the harsh economic and business conditions and preserve shareholders’ value,” Akinlusi added.

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TrustBond Mortgage


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