Infinity Mortgage Trust Bank posted 28.26 per cent growth in its profit-after-tax to N419.70 million in the financial year ended December 2019.
According to the financial statement of the mortgage bank released on Tuesday, it generated total revenue of N1.38 billion during this period, representing 37.14 per cent rise from N1.01 billion raked in 2018.
While the bank interest income was up 46.00 per cent (year-on-year) to N1.08 billion in 2019, compared to N737.31 million in the prior year, its fees and commission income increased 69.38 per cent to 120.27 million against N71.01 million 2018.
Its impairment charges up ticked 25.47 per cent to N1.18 billion, compared to N943.94 million credit loss it suffered last year.
Infinity Mortgage Trust Bank spent N742.62 million as operating cost I 2019, 28.66 per cent higher than N577.19 million in expended in the corresponding period in the previous year.
Its earnings per share increased 49.51 per cent to N9.06 last year instead of N6.06 in 2018.