By Fortune Eromosele

A mortgage lender firm, Infinity Trust Mortgage Bank Plc, ITMB, has said it recorded notable growth in various aspects of its operations in spite of COVID-19 constraints on businesses in Nigeria.

The Managing Director and Chief Executive Officer of ITMB, Dr Olabanjo Obaleye said the growth does not benefit the bank alone, but benefits the Nigerian economic environment, as it creates a platform for foreign investors.

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He noted that it is not a profit-oriented bank but works towards delighting its customers and investors. He added that they had come up with various flexible and transformative strategies that make business easy in this economic era while leveraging information technology to simplify its processes.

He listed some of the bank’s achievements amidst the pandemic to include; 33% increase in loans and advances, 25% growth in assets, proposed 4% increase in dividend, 94% increase in deposit mobilization, and 4% increase in shareholders funds amongst other feats.

Obaleye while answering questions from journalists expressed optimism that the bank will experience further growth in profit and financial position in 2021 given its financial performance for the first quarter which surpassed its comparative preceding year performance.

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In order to provide effective financing for desiring homeowners and consolidate its position as a leading national Primary Mortgage Bank, he noted that the Bank opened a liaison office in Kaduna recently and plans to expand its operations to other states in the country.

Obaleye said that the earnings call is a strategic way for the bank to relay information about the recently released audited financial statements for the year ended 31 December 2020; share future projections to all interested parties specifically the buy and sell-side analysts, existing and potential investors as well as the general public.

Vanguard News Nigeria