LivingTrust Mortgage Bank has published its half-year financial results for the period ended June 30, 2025, posting a pre-tax profit of N562.5 million.
This marks a 32.78% year-on-year increase from the N423.6 million recorded in the same period last year, driven largely by a robust rise in interest and related income.
Interest and similar income rose sharply to N2.04 billion, reflecting a 46.79% increase compared to N1.3 billion in the corresponding period of 2024.
However, the cost of funding rose significantly. Interest expenses surged to N1.5 billion, more than doubling the N585.6 million recorded in the first half of 2024.
On a positive note, fee and commission income jumped 115.72% to N86.8 million, with the majority—N66.7 million—coming from credit-related fees.
The bank also recorded N542.9 million in ‘other operating income’. Interest from treasury bills stood at N342.7 million, a significant jump from just N31.6 million in the same period last year.
Despite a 40.66% spike in total operating expenses, the bank maintained its profitability.
On the balance sheet, total assets rose by 20.1% to N28.8 billion, while retained earnings stood at N1.4 billion.
As of the close of trading on July 11, shares of the company were priced at N7.30, reflecting a year-to-date performance of 67%.