Economy
Infinity Trust Mortgage Bank Eyes N4bn Earnings, 35 Kobo EPS, 40% ROE
By Adedapo Adesanya
The management of Infinity Trust Mortgage Bank Plc (ITMB) has expressed its intention to make its shareholders smile in the coming years, with the mapping out of some strategies to make this happen.
Some day ago, the company was at the Nigerian Stock Exchange (NSE) to present its Facts Behind The Figures to investors, members of the investing community as well as the media.
During the event covered by Business Post, Managing Director/CEO of Infinity Trust Mortgage Bank, Mr Onabanjo Obaleye, stated that the firm plans to double its investments in the next three years.
According to him, in the past years, ITMB has achieved some successes and would want to cover more grounds and spread its areas of operations.
In the past years, he said total assets in 2013 stood at N7.39 billion, but grew to N10.35 billion in 2018 and stood at N11.23 billion as at July 2019. He further said loan and advances in its first year as a public company stood at N1.31 billion, but rose to N3.8 billion in 2018 and N5.05 billion so far, while the investments have also grown to N2 billion as at the period calculated in 2019.
“We have moved our shareholders from 150 to 500 and we became a national mortgage bank,” he informed the investment community at the event.
Looking ahead, Mr Obaleye said the company seeks to build a strong brand presence in its market and have an improved customer confidence, efficient corporate governance, public and private housing initiatives among other drivers.
He expressed optimism that Infinity Trust Mortgage Bank plans to grow its total assets to N14.23 billion in 2019, N18.50 billion in 2020 and N26.50 billion in 2022.
He also said the firm looks to double is investments from N2 billion currently to about N4 billion in the next three years and its earnings projected to move from N776.92 million to N1.77 billion in 2019 and N4 billion in December 2022.
Mr Obaleye further said the bank also hopes to increase its earnings per share (EPS) from its current 10 Kobo to 18 kobo in 2019, 25 kobo in 2020, 30 kobo in 2021 and as high as 35 Kobo in 2022.
In addition, there are plans to reduce the cost to income reduced from 60.3 percent to 50 percent in the next three years, with the Non-Performing Loans (NPLs) ratio expected to go down to 3.0 percent from the current 6.9 percent.
The firm further said it hopes to have its return on equity at 12.45 percent in 2019 fiscal year, 15.50 percent in 2020, 35.0 percent in 2021 and 40.0 percent in 2020.
For the profit before tax, the company is looking at N761.7 million in 2019, N1.2 billion next year, N1.75 billion in 2021 and N2.00 billion in 2020.
At event, Mr Obalaye admitted that the company has not had it rosy since it commenced operations in Nigeria especially due to harsh economy and security challenges in its core area of operations, the north.
“Rising insurgency and terrorist activities in the North East and spreading South is affecting every business not only mortgage business.
“Concerns about safety and security of persons and goods is taking its toll on business operations
“Also, lengthy court processes, absence of unified foreclosure law and government right to land.
“The policy initiative of government equally needs to be addressed if home ownership in Nigeria needs to be redeemed,” he stated.
But he assured that the board and management were capable of making Infinity Trust Mortgage Bank stronger amid the challenges.
He said one of the strategies to achieve this is collaborating with the relevant stakeholders to increase its issued share capital from N2.085 billion it has remained since 2013.
“We are working on how we are going to increase this,” Mr Obaleye said, adding that discussions were ongoing with its investment partners, Cordros Capital, one this.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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