ITMB Posts Strong Earnings, Announces N1.46bn Dividend
By Daniel Adaji
Shareholders of Infinity Trust Mortgage Bank Plc have approved a gross dividend payout of N1.46bn for the 2025 financial year.
This is as the mortgage lender posted stronger earnings despite persistent affordability and accessibility challenges confronting Nigeria’s housing finance sector.
The approval was granted at the bank’s 20th Annual General Meeting held in Abuja on Thursday, where shareholders also endorsed a landmark one-for-one bonus share issue, an increase in share capital, and key board appointments.
Speaking at the meeting, Chairman of the Board, Okwa Ene Iyana, said the bank’s performance reflected “the resilience of its business model, prudent corporate governance practices and commitment to delivering sustainable value to stakeholders.”
Members of the board of ITMB during the AGM on Thursday. Photo credit: The Insight
According to the bank, shareholders approved the payment of a gross dividend of N1,459,656,002, representing 35 kobo per ordinary share of 50 kobo each for qualified shareholders.
The dividend marks a 66.7 per cent increase from the 21 kobo declared in the previous financial year, underscoring what the bank described as its sustained growth trajectory, improved earnings performance and confidence in its long-term strategic direction.
In addition to the cash payout, shareholders approved a one-for-one bonus share issue for qualifying investors, a move expected to strengthen shareholder value and expand the bank’s capital base.
Some shareholders of the bank during the AGM on Thursday. Photo credit: The Insight
The AGM, conducted in line with the provisions of the Companies and Allied Matters Act 2020 and the Business Facilitation Act 2023, attracted shareholders, regulators, directors and other stakeholders both physically and virtually.
As part of resolutions passed at the meeting, shareholders ratified the appointment of Obasegun Adetokunbo Oni as a Non-Executive Director for a renewable four-year tenure following approval by the Central Bank of Nigeria.
The bank described Oni as an information security professional with more than 25 years of experience in enterprise systems security, governance and compliance.
The meeting also approved the composition of the statutory audit committee in line with corporate governance requirements.
Commenting on the bank’s outlook, the board reaffirmed its commitment to “strengthening shareholder value, deepening operational efficiency, leveraging technology-driven innovation and sustaining the bank’s growth trajectory within Nigeria’s evolving financial services landscape.”
Speaking on the company’s strategic plans, the acting Managing Director/Chief Executive of the bank, Mrs Ngozi Chukwu stated “basically our focus is to expand to grow, grow our capital base such that we are able to meet whatever the capital requirements would be for mortgage banks as CBN would announce.”
The board pledged to maintain high standards of transparency, regulatory compliance and corporate governance while positioning the institution for long-term profitability.
Access to affordable housing finance remains a major challenge for millions of Nigerians due to high interest rates, rising inflation, escalating property prices and limited long-term funding for mortgage institutions.
Industry analysts have also repeatedly highlighted low income levels, weak mortgage penetration and difficulties in land title documentation as barriers limiting home ownership across the country.
The sharp rise in borrowing costs following monetary tightening by the Central Bank has further increased the cost of mortgage financing, placing home ownership beyond the reach of many middle and low-income earners.
Despite these pressures, Infinity Trust Mortgage Bank has continued to expand its operations and improve profitability, positioning itself among the notable players seeking to deepen mortgage accessibility through technology-driven and customer-focused financial solutions.
Founded as a primary mortgage financial institution, Infinity Trust Mortgage Bank Plc provides mortgage and housing finance solutions aimed at promoting home ownership, wealth creation and sustainable economic development in Nigeria.
The bank has increasingly focused on digital innovation, operational efficiency and corporate governance reforms as part of efforts to strengthen its competitiveness within the country’s evolving financial services sector.
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