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.
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