LivingTrust Mortgage Bank Plc has released its unaudited financial statements for the third quarter ended September 30, 2025, reporting a pre-tax profit of N255.6 million, a 7.04% increase from N238.8 million in the corresponding period of 2024.
Gross earnings surged by 110.94% to N2.1 billion from N998.7 million in Q3 2024, driven largely by strong interest income and non-interest income.
This supported the bank’s nine-month pre-tax profit, which rose by 2.57% to N800 million from N779.9 million in the same period last year.
A closer look at the numbers shows a strong uptick in earnings, driven largely by higher interest income. The bank’s interest income surged 96.87% to N1.5 billion in Q3, bringing the nine-month total to N3.5 billion, a 64.45% year-on-year increase.
However, the rise in interest income came with higher funding costs, as interest expenses jumped 265.9% to N1.2 billion.
Non-interest income, however, also provided a boost in Q3.
Overall, operating income rose 25.96% year-on-year to N812.5 million. After accounting for an impairment loss of N2.9 million, net operating income came in at N809.6 million.
Despite higher operating expenses of N553.9 million, the bank still recorded a pretax profit of N255.6 million in Q3, up 7.04% from the previous year.
The balance sheet remained solid, with total assets rising 22.80% to N29.5 billion. Loans and advances to customers accounted for the largest share at N15.6 billion, followed by due from banks at N8.1 billion.
Total equity stood at N5.05 billion, with retained earnings firming at N1.4 billion.
However, total liabilities increased by 28.86% to N24.4 billion, with customer deposits making up the bulk at N19.9 billion.
As of the trading week ended October 24, 2025, the company’s shares were priced at N4.01.