LivingTrust Mortgage Bank Plc has crossed the N1 trillion mark in its after-tax profit, driven by balance sheet expansion, higher interest income, and stronger non-interest revenue, according to its unaudited financial statements for the year ended December 31, 2025
The primary mortgage bank reported an after-tax profit of N1.01 trillion, up from N854.5 billion in 2024, representing an 18.4 percent year-on-year growth. Gross earnings also rose to N6.2 trillion, reflecting improved operating efficiency and revenue diversification
Interest income surge, despite higher funding costs
LivingTrust’s core earnings engine remained interest income, which increased to N4.49 trillion in 2025 from N2.90 trillion the previous year.. A sharp increase in loans largely supported this growth and advances to customers, which expanded to N17.09 trillion, compared with N14.02 trillion in 2024
However, rising funding costs pressured margins. Interest and similar expenses surged to N3.72 trillion, nearly three times the prior year’s N1.38 trillion, reflecting higher deposit rates and a tighter liquidity environment. As a result, net interest income moderated to N766.9 billion, down from N1.52 trillion in 2024.
A major driver of LivingTrust’s bottom line in 2025 was non-interest income. Other operating income rose to N1.34 trillion, almost doubling the N723.0 billion recorded in 2024. This was supported by strong returns from investment income, placements with banks, and treasury bills, which contributed N509.6 billion in interest income alone.
Fee and commission income also improved to N186.6 billion, up from N102.7 billion the previous year, reflecting higher transaction volumes and credit-related fees
Combined, these streams lifted total operating income to N2.80 trillion, compared with N2.35 trillion in 2024.The company’s earnings per share rose to N20.23 from N17.09.
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Cost pressures contained amid expansion
Operating expenses increased in line with the bank’s growth, rising to N1.71 trillion from N1.44 trillion in 2024. Personnel costs stood at N594.4 billion, while energy, administrative, and other operating expenses reflected inflationary pressures across the economy.
Despite the higher cost base, LivingTrust maintained profitability, aided by minimal impairment charges of N2.7 billion, suggesting improved asset quality and loan performance.
Balance sheet growth underpins earnings
LivingTrust’s total assets expanded by 36 percent to N32.74 trillion, up from N24.05 trillion in 2024. Customer deposits rose sharply to N22.15 trillion, reflecting stronger confidence and aggressive deposit mobilisation, particularly in time deposits.
Equity remained stable at N5.05 trillion, supported by retained earnings of N1.40 trillion, while capital adequacy was bolstered by statutory and regulatory risk reserves.
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The bank generated N4.01 trillion in net cash from operating activities, supported by higher deposits and income inflows. Cash and cash equivalents closed the year at N12.97 trillion, more than double the N5.73 trillion recorded in 2024, strengthening liquidity buffers
Shares of LivingTrust Mortgage Bank closed after the trading day on Monday, January 21, 2025, at N5.36, gaining 55.4 percent year-to-date. The mortgage bank currently has a market capitalisation of N26.8 billion and is the 85th most valuable stock on the NGX.