Infinity Trust Mortgage Bank Plc reported a pre-tax profit of N2.76 billion for the nine months ended September 30, 2026, representing a 26.94% increase from N2.18 billion recorded in the corresponding period of 2025, according to its unaudited financial statements.
Profit after tax also increased by 24.95% to N2.61 billion from N2.09 billion, despite higher interest expenses and operating costs during the reporting period.
The mortgage lender’s nine-month turnover increased by 41.51% to N6.49 billion from N4.58 billion, supported by stronger interest income from mortgage lending and treasury operations.
Infinity Trust Mortgage Bank’s nine-month earnings growth was largely driven by increased interest income, particularly from mortgage lending activities and treasury operations.
A breakdown of interest income showed that other mortgage loans and advances to customers remained the largest contributor, generating N4.16 billion, compared with N2.57 billion in the previous year.
This accounted for 70.6% of total interest income, making it the bank’s principal earnings source during the reporting period.
Income from estate mortgages also increased to N565.51 million from N335.51 million, while treasury operations and placements generated N1.07 billion, compared with N787.60 million in 2025.
The improvement in lending income came alongside a significant expansion in the bank’s loan portfolio.
Net loans and advances to customers increased by 46.48% to N36.69 billion as of September 2026, compared with N25.05 billion in September 2025.
The growth in the loan book was accompanied by higher funding costs.
Despite the higher funding costs, net interest income increased by 43.55% to N3.70 billion from N2.58 billion, providing the main support for earnings growth.
Net fees and commission income declined by 18.79% to N159.29 million, while other operating income dropped by 24.22% to N442.46 million.
Operating expenses also increased during the period, rising by 29.17% to N1.46 billion from N1.13 billion.
Nevertheless, the expansion in net interest income was sufficient to absorb the higher costs, allowing pre-tax profit to increase by 26.94% to N2.76 billion.
The bank’s balance sheet also expanded significantly, with total assets rising by 44.66% to N54.87 billion from N37.93 billion in September 2025.
The asset growth was mainly driven by increased loans and advances to customers and higher balances due from banks.
On the funding side, debt issued and other borrowed funds increased by N12.57 billion to N26.87 billion, compared with N14.31 billion in September 2025.
This expansion in borrowed funds coincided with the increase in the bank’s loan portfolio, although it also contributed to higher interest expenses.
Despite stronger reported earnings, the bank recorded a net operating cash outflow of N5.80 billion, compared with an outflow of N4.47 billion in the corresponding nine-month period of 2025.
Overall, the bank recorded a net increase in cash and cash equivalents of N2.71 billion, down 12.34% from N3.09 billion in the corresponding period of 2025.
The results indicate that increased mortgage lending and treasury income supported profitability, although rising borrowing costs and negative operating cash flow remain important considerations in assessing the quality of earnings.
Infinity Trust Mortgage Bank’s shares closed at N11.25 per share on Monday, October 26, 2026, on the Nigerian Exchange.
The stock began the year at N7.00 per share and has since gained 60.71% year-to-date, equivalent to a price appreciation of N4.25 per share.
This performance places Infinity Trust Mortgage Bank 38th on the NGX in terms of year-to-date share-price performance, based on the supplied ranking.
