LivingTrust Mortgage Bank reports 33% increase in pre-tax profits for Q4 2022

LivingTrust Mortgage Bank Plc has released its Q4 2022 results, reporting a pre-tax profit of N1.026 billion.

This represents a 33% increase from the N768.210 million the company reported during the same period in 2021. 

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.