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.Â
Gross earnings  Â
2022 Q4: N2.539 billionÂ
2021 Q4: N1.627 billionÂ
Change: +56%Â
Total operating income  Â
2022 Q4: N2.052 billionÂ
2021 Q4: N1.395 billionÂ
Change: +47.09%Â
Total operating expenses Â
2022 Q4: N928.218 millionÂ
2021 Q4: N681.387 millionÂ
Change: +36%Â
Pre-tax profit Â
2022 Q4: N1.026 billionÂ
2021 Q4: N768.210 millionÂ
Change: +33%Â
Net Profit after taxÂ
2022 Q4: N909.151 millionÂ
2021 Q4: N506.962 millionÂ
Change: -79%Â
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.Â