By Favour Ulebor, Abuja

Shareholders of Infinity Trust Mortgage Bank Plc have approved a N1.46 billion gross dividend payout and a one for one bonus share issue following the bank’s strong financial performance for the 2025 financial year, which saw Profit After Tax rise by 82 per cent.

The approvals were granted during the bank’s 20th Annual General Meeting, AGM, held Thursday in Abuja, where shareholders also endorsed an increase in share capital and ratified key board appointments aimed at strengthening the institution’s governance and technology driven operations.

Speaking at the AGM, Chairman of the Board, Mrs. Okwa Ene Iyana, said the bank’s sustained profitability over the last 20 years reflected the resilience of its business model, sound corporate governance structure and commitment to delivering long term value to shareholders.

According to her, the mortgage lender recorded significant growth across major financial indicators despite prevailing macroeconomic pressures and housing finance challenges in Nigeria.

She disclosed that gross earnings increased by 55 per cent from N4.3 billion in 2024 to N6.7 billion in 2025, driven largely by growth in the bank’s loan portfolio and improved interest income.

Iyana further stated that Profit Before Tax rose by 76 per cent to N3.027 billion, while Profit After Tax climbed by 82 per cent to N2.7 billion during the review period.

She added that the bank’s balance sheet expanded by 79 per cent from N25.1 billion in 2024 to N44.7 billion in 2025, while net loan assets rose from N16.1 billion to N30 billion after the institution disbursed a record N22 billion in loans within the year.

The shareholders approved a gross dividend payout of N1,459,656,002, representing 35 kobo per ordinary share of 50 kobo each for qualified shareholders. The dividend marks a 66.7 per cent increase compared to the 21 kobo dividend paid in the previous year.

In addition to the cash dividend, shareholders also approved a one for one bonus share issue for qualifying investors as part of efforts to strengthen shareholder value and expand the bank’s capital base.

Iyana said the bank’s aggressive growth strategy aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, particularly in the area of expanding access to housing finance and supporting economic development.

Speaking on the bank’s future direction, Acting Managing Director and Chief Executive Officer, Mrs. Ngozi Chukwu, said the institution would continue to prioritise capital expansion and digital transformation.

“Basically, our focus is to expand and grow our capital base such that we can meet whatever the capital requirements would be for mortgage banks as the Central Bank of Nigeria would announce,” she said.

Chukwu explained that the bank’s five year strategic plan places technology at the centre of its operations in response to ongoing changes within the financial services industry.

She noted that ITMB had intensified investments in technology infrastructure and cybersecurity systems to protect its digital operations from increasing cyber threats.

As part of efforts to strengthen oversight in technology and information security, shareholders ratified the appointment of Mr. Obasegun Adetokunbo Oni as a Non Executive Director for a renewable four year tenure after receiving approval from the Central Bank of Nigeria.

The bank described Oni as an information security professional with more than 25 years of experience in enterprise systems security, governance and compliance.

Chukwu also stressed the bank’s commitment to transparency and corporate governance, noting that the board regularly undergoes independent evaluations to ensure compliance with regulatory standards and global best practices.

The AGM was conducted in line with the provisions of the Companies and Allied Matters Act 2020 and the Business Facilitation Act 2023, attracting shareholders, regulators, directors and other stakeholders both physically and virtually.

The board reaffirmed its commitment to improving operational efficiency, strengthening shareholder value, leveraging technology driven innovation and sustaining the bank’s growth trajectory within Nigeria’s evolving financial services sector.