Fast growing mortgage lender LivingTrust Mortgage Bank Plc capped a hugely successful year with the coveted African Mortgage Bank of the Year award.
The Bank was announced as the winner of the 2021 Africa Housing Awards, held in Abuja on Friday.
The event, widely recognized as the most credible and prestigious housing industry award in Africa, brought together top mortgage / housing / construction industry players, and chaired by Senator Sam Egwu, Chairman of the Senate Housing Committee and former Governor of Ebonyi State.
According to the organizers, the criteria for selecting LivingTrust Mortgage Bank as the African Mortgage Bank of the Year include: rationale, growth and diversity of the portfolio, especially in the area of National Housing Fund or Affordable Housing, quality corporate social responsibility interventions and low staff turnover.
Regarded as one of the fastest growing Nigerian mortgage entities, based on earnings growth and share value growth, LivingTrust Mortgage Bank recently posted a 3-month return of 42% on record profits, by leveraging digital services.
The bank’s stock also performed well after posting an after-tax profit of N 533.3 million for the nine-month period ended September 30, 2021, up 372% from 112.92%. million naira recorded in the corresponding period of 2020.
In November, the bank’s share rose 20.00% from N 0.80 at the start of the month to N 0.96 at the end of the month, placing it among the top three winners of the Nigerian Stock Exchange for November. 2021.
Following the bank’s rapid growth in a very short period of time, it also took a multi-channel approach to customer service by launching a new mobile app and a new corporate website.
Bank president Alhaji Adebayo Jimoh called the award “Appropriate recognition of the bank’s exceptional performance and its exceptional contribution to the development of the mortgage sector”.
In addition, the Director General, Mr. Adekunle Adewole, while expressing his joy for the award, praised the transparency and objectivity of the organizers in the selection process and their commitment to ensure that the winners in all categories are truly deserving.
“The Board of Directors, management and staff of LivingTrust Trust Mortgage Bank are grateful to have been deemed worthy of such a great honor, primarily because of our operational excellence, superior customer service and contribution. exceptional development of the mortgage industry, ”said Adewole.
“We are also aware of the enormous responsibilities that come with such a prestigious award. We are therefore committed to continuing our commitment to provide our rapidly expanding clientele with excellent products and services tailored to meet their specific interests and focused on the overall development of the mortgage industry ”, he further declared.
The awards are an annual event that celebrates excellence in the housing and construction industry. It also recognizes the success of companies and individuals who set the tone for innovative construction, high industrial standards, market expansion and national economy development.