Infinity Trust Mortgage Bank Plc has released its unaudited full year 2022 results, reporting a pre-tax profit of N656.93 million.
This represents a 479% increase from the N113.334 million the company reported during the same period in 2021.
Gross earnings
2022 FY: N1.757 billion
2021 FY: N455.47 million
Change: +258%
Total operating income
2022 FY: N1.500 billion
2021 FY: N376.08 million
Change: +297%
Total operating expenses
2022 FY: N821.86 million
2021 FY: N258.62 million
Change: +217%
Pre-tax profit
2022 FY: N656.93 million
2021 FY: N113.33 million
Change: +479.6%
Net Profit after tax
2022 FY: N542.49 million
2021 FY: N105.45 million
Change: +414%
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.
