By Esther Alexander
The Board of Directors of Infinity Trust Mortgage Bank Plc last Thursday approved the audited financial statements for the year ended December 31, 2022.
The company disclosed this during its 17th Annual General Meeting on Thursday in Abuja.
The bank highlighted its turnover achievements in 2022 to over 2 billion with a closing increase of 29% in its PBT from 656.9 million in 2021 to 847.1 million, which it described as commendable.
Speaking at the 17th AGM, the chairman of the board Dr. Adeyinka Bibilari spoke on management and the importance of economizing so as to increase the company’s turnover and ensure dividends are paid to shareholders.
He also announced the declaration of final dividends as agreed by the board to a turn of six kobos per ordinary share of fifty kobos.
The Managing Director, Mr. Sunday Olumorin says the non-performing loan is on the rise as a result of certain policies, he encourages shareholders to rest assured of recovering every penny that has gone out.
He also expressed satisfaction with the performance of the bank for the year under review.
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Shareholders also commended the efforts of the board for ensuring their dividends are duly paid annually, appraising the bank for its robust financial performance in the year under review.
The highlight of the Annual General Meeting includes the re-appointment of the company’s external auditors Aminu Ibrahim & Co.