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Tuesday, January 31, 2023

LivingTrust Mortgage Bank Announces Pre-tax profits by 33% in fourth quarter, 2022.

A pre-tax profit of N1.026 billion was reported in LivingTrust Mortgage Bank Plc’s Q4 2022 reports. The N768.210 million the corporation reported during the same period in 2021 has increased by 33% to this amount.

Gross earnings   

2022 Q4: N2.539 billion 

2021 Q4: N1.627 billion 

Change: +56% 

Total operating income   

2022 Q4: N2.052 billion 

2021 Q4: N1.395 billion 

Change: +47.09% 

Total operating expenses  

2022 Q4: N928.218 million 

2021 Q4: N681.387 million 

Change: +36% 

Pre-tax profit  

2022 Q4: N1.026 billion 

2021 Q4: N768.210 million 

Change: +33% 

Net Profit after tax 

2022 Q4: N909.151 million 

2021 Q4: N506.962 million 

Change: -79% 

Bottom line: The growth in pre-tax profits was due to the increase in interest income boosted by loans and advances to customers and credit-related fees and commissions. 

Source: nairametrics

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