Infinity Trust Mortgage Bank PlcNSENG: INFINITY

Quarter 1 - financial statement for 2026

Apr 28, 2026 at 10:18 AM UTC · Issued by Infinity Trust Mortgage Bank Plc

INFINITY TRUST MORTGAGE BANK PLC

INTERIM UNAUDITED FINANCIAL STATEMENTS FOR THE THREE MONTHS PERIOD ENDED

31 MARCH 2026 STATEMENT TO THE NIGERIAN STOCK EXCHANGE AND THE SHAREHOLDERS ON THE EXTRACT OF THE UNAUDITED RESULTS FOR THE THREE MONTHS ENDED 31 MARCH, 2026. The Board of Directors of Infinity Trust Mortgage Bank Plc is pleased to present an extract of the unaudited and interim financial statements for the Three Months Ended 31 March, 2026 which was approved by the Board of Directors on April 10, 2026.

INFINITY TRUST MORTGAGE BANK PLC

3 Months Ended	3 Months Ended	Year Ended
31 March	31 March	31 December
2026	2025	2025
Unaudited	Unaudited	Audited
N	N	N
1,928,971,589	1,285,472,976	6,791,967,621
1,765,017,559	1,082,789,618	5,710,288,222
(538,761,961)	(341,638,380)	(1,865,192,655)
1,226,255,598	741,151,239	3,845,095,567
73,749,866	41,509,826	269,385,266
-	-
73,749,866	41,509,826	269,385,266
90,204,163	161,173,531	812,294,133
1,390,209,627	943,834,596	4,926,774,966
(5,253,000)	-	(234,255,380)
1,384,956,627	943,834,596	4,692,519,586
141,171,141	133,998,893	579,652,419
31,499,032	20,962,864	101,180,552
3,968,091	2,901,317	13,373,819
309,734,043	184,417,331	970,591,678
486,372,307	342,280,404	1,664,798,468
898,584,320	601,554,192	3,027,721,118
(52,207,850)	(60,518,912)	(327,352,008)
846,376,470	541,035,280 1,531,523,489.00	2,700,369,110 1,382,886,807
846,376,470	2,072,558,769	4,083,255,917
80.17	50.89	64.75

Statement of Comprehensive Income

for the Three Months Ended 31 March, 2026

NOTES

Turnover

Interest and similar income 1

Interest and similar expense 2

Fee and commission income 3

Fee and commission expense Net fee and commission income

Other operating income 4

Total operating income

Credit loss expense 5

Net operating income

Personnel expenses 6

Depreciation of property and equipment 14b Amortisation of intangible assets 15b

Other operating expenses 7

Total operating expenses Profit before tax

Income tax expense Profit after Tax

Other Comprehensive Income

Total Comprehensive Income Earnings per share - Basic (Kobo)

3 Months Ended 31 March 2026 Unaudited N
274,646,104 6,354,136,407 34,763,238,089 1,495,982,320 440,243,551 985,054,115 4,409,584,479 53,117,961 -
48,776,003,025
10,975,344,347 21,633,548,494 554,311,526 183,749,164 3,708,246,234
37,055,199,764
2,085,222,860 600,000,000 1,227,369,465 1,998,307,708 2,732,707,846 1,582,968,453 607,648,996 40,201,462 846,376,470
11,720,803,260

48,776,003,025

INFINITY TRUST MORTGAGE BANK PLC

Statement of Financial Position As at 31 March 2026 NOTES		3 Months Ended Year Ended 31 March 31 December 2025 2025 Unaudited Audited N N
Assets Cash and balances with Central Bank	9	131,956,350	262,824,579
Due from banks	10	5,469,847,675	7,747,103,137
Loans and advances to customers	11	17,372,849,976	30,039,092,836
Investment Securities	12
- FVOCI		908,133,329	421,588,966
- Held at amortised Cost		381,215,196	912,648,996
Other assets	13	693,632,704	1,088,232,527
Property and equipment	14	4,195,792,323	4,229,343,772
Intangible assets	15	36,628,239	57,086,052
Deferred tax assets	16	-	-
Total Assets		29,190,055,792	44,757,920,865
Liabilities and Equity Liabilities Due to customers	18	8,388,375,621	10,831,329,634
Debt issued and other borrowed funds	19	7,849,845,763	18,884,465,301
Current tax liabilities	20	331,958,933	502,103,677
Deferred Liabilities		10,406,456	183,749,164
Other liabilities	21	2,244,083,379	1,980,190,300
		18,824,670,151	32,381,838,076
Total liabilities
Equity Issued ordinary share capital	22	2,085,222,860	2,085,222,860
Preference Shares	23	600,000,000	600,000,000
Share premium		1,227,369,465	1,227,369,465
Statutory reserve		1,458,233,883	1,998,307,706
Retained earnings		1,879,841,843	4,234,363,848
Revaluation Reserve		1,736,120,802	1,582,968,453
Fair Value Reserve	24	603,133,329	607,648,996
Regulatory Risk Reserve		234,428,179	40,201,461
Unaudited three Months Profit (2026)		541,035,280
Total equity		10,365,385,641	12,376,082,789

Total liabilities and equity		29,190,055,792	44,757,920,865

The interim and abridged financial statements were approved by the Board of Directors on 10th April, 2026 and signed on its behalf by:

TOLU OSHO MRS NGOZI CHUKWU

COMPANY SECRETARY Ag MANAGING DIRECTOR/CEO FRC/2017/NBA/00000016418 FRC/2026/PRO/DIR/003/943945.

Also signed by:

BUKOLA AFARIOGUN

Chief Financial Officer FRC/2021/002/00000024781

STATEMENT OF CHANGES IN EQUITY	Issued Capital	Share Premium	Preference Shares	Statutory Reserves	Fair Value Reserves	Retained Earnings	Revaluation Reserves	Unaudited current Year profit	Regulatory Reserves	Total equity
	N	N	N	N	N	N	N	N	N
At 1 January, 2025	2,085,222,860	1,227,369,465	600,000,000	1,458,233,884	603,133,329	2,797,635,443	204,597,313	-	234,428,179	9,210,620,473
Transfer to retained earnings	-	-	-			2,700,369,110			0	2,700,369,110
Transfer to statutory reserve				540,073,822		(540,073,822)				-
Transfer to regulatory Risk reserve						194,226,718			(194,226,718)	-
Transfer to fair value reserve										-
Ordinary Dividend Paid						(875,793,601)				(875,793,601)
Preference Dividend Paid						(42,000,000)				(42,000,000)
Revaluation (Gain or Loss )					4,515,667		1,378,371,140			1,382,886,807
At 31 December, 2025 2,085,222,860		1,227,369,465	600,000,000	1,998,307,706	607,648,996	4,234,363,848	1,582,968,453	40,201,461 12,376,082,789
Issued		Share	Preference	Statutory	Fair Value	Retained	Revaluation	Unaudited current Regulatory
Capital		Premium	Shares	Reserves	Reserves	Earnings	Reserves	Year profit Reserves Total equity
N		N	N	N	N	N	N	N N

2,085,222,860	1,227,369,465	600,000,000	1,998,307,706	607,648,996	4,234,363,848	1,582,968,453	846,376,470	40,201,461	12,376,082,789
									-
									-
-	-	-							-
-	-	-			-				-
-	-	-							-
					(1,459,656,002)				(1,459,656,002)
					(42,000,000)				(42,000,000)
									-
2,085,222,860	1,227,369,465	600,000,000	1,998,307,706	607,648,996	2,732,707,846	1,582,968,453	846,376,470	40,201,461	11,720,803,260

At 1 January 2026

Fair Value (IFRS-13)

Transfer to retained earnings ( Unaudited Profit) Transfer to statutory reserve

Transfer to regulatory Risk Ordinary Dividend Paid_Proposed Preference Dividend Paid_Proposed Revaluation (Gain or Loss )

At 31 MARCH 2026

Dividend

The Bank proposed 35k dividend for Ordinary Shareholder and 7k for Preference Shareholder ; 1.459billion for Ordinary Shareholder and 42million for Preference shareholders. The amount has been deducted from retained earning to Proposed dividend ( Note 8) and classified as other liabilities

Infinity Trust Mortgage Bank Plc Interim Financial Statements Statement of Cash Flows for the Quarter Ended 31 March, 2026		3 Months Ended
		31 March 2025 N
Profit before tax		601,554,192
Adjustment for non cash items
Impairment on loans and advances		-
Depreciation of Property, Plant & Equipment		20,962,864
Amortisation of intangibles		2,901,317
Cashflow before changes in working capital		625,418,372
CHANGES IN WORKING CAPITAL
Decrease/(Increase) in Loans and Advances		(1,192,480,388)
Decrease/(Increase) in Others		337,536,537
Decrease/(Increase) in Non Current Assets		-
(Decrease)/Increase in Deposits		2,423,980,379
(Decrease)/Increase in Other Liabilities		(49,324,795)
Tax Paid/Provission		-
Cash generated from operations		1,519,711,733
CASHFLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment		(5,025,969)
Purchase of Intangible Assets		(323,684)
Purchase of Investments (NET )		338,622,549
		333,272,896
CASHFLOW FROM FINANCING ACTIVITIES
Dividend Paid		-
Receipt of borrowed funds (Net)		(467,651,466)
		(467,651,466)
Increase/ (Decrease) in cash and cash equivalent		2,010,751,535
Cash and cash equivalent as at beginning of period		3,591,052,490
Cash and cash equivalent as at end of period		5,601,804,025
Additional cash flow information
Cash and cash equivalent
Cash on hand (Note 16)		24,790,960
Balances with Banks within Nigeria		512,057,266
Placements with Banks		5,064,955,799
		5,601,804,025
The deposits with the Central Bank of Nigeria is not available
to finance the bank's day to day operations and therefore,are
not part of cash and cash equivalents. (See Note 16)

3 Months Ended 31 March 2026 N
898,584,320 5,253,000 31,499,032 3,968,091
939,304,443
(4,747,506,877) 103,178,412 -144,014,713 226,399,932
(4,273,913,821)
(148,741,675) -(646,877,345)
(795,619,020)
-2,749,083,193
2,749,083,193
(1,381,145,205) 8,009,927,716
6,628,782,511
26,040,180 248,605,924 6,354,136,407
6,628,782,511

INFINITY TRUST MORTGAGE BANK PLC Quarter Ended 31 March, 2026	3 Months Ended 31 March	3 Months Ended 31 March
Notes to the Financial Statements 1 Interest and similar income	2026 N	2025 N
National Housing Fund Loans	33,032,457	37,242,511
Estate Mortgage Income	174,974,132	72,066,496
Other Mortgage Loans and advances to customers	1,252,213,520	714,040,982
Treasury Operations and Placements	304,797,451	259,439,629
	1,765,017,559	1,082,789,618
2 Interest and similar expense:
Customers Deposits	241,219,313	145,273,193
Debt issued and other borrowed funds	297,542,648	196,365,186
	538,761,961	341,638,380
3 Net fees and commission income Fees and commission income Credit related fees and commission	61,684,719	32,510,997
Commission on turnover	11,887,167	8,906,185
Facilities management fees	27,479	30,045
Other commissions	150,500	62,600
	73,749,866	41,509,826
4 Other operating income Investment Income	85,701,000	152,912,500
Rental Incomes Others	-4,503,163	-8,261,031
	90,204,163	161,173,531
5 Impairment losses
Credit loss expense	5,253,000	5,253,000.0
6 Personnel expenses Salaries and Wages	112,458,688	104,366,825
Other staff costs	21,643,512	21,954,384
Pension costs - Defined contribution plan	7,068,942	7,677,684
	141,171,141	133,998,893
7 Other operating expenses Advertising and marketing	25,754,892	1,276,610
Administrative	42,060,526	37,121,385
Professional fees	13,569,425	9,126,564
Others	228,349,200	136,892,772
	309,734,043	184,417,331
8 Dividends paid and proposed
a. Proposed
Declared for the year Suject to AGM Ratification Equity dividends on ordinary shares:	1,459,656,002	875,793,601
Equity dividends on preference shares:	42,000,000	42,000,000
	1,501,656,002	917,793,601
The proposed divided of 1.501billion is classified as
other liability from Retain earnings in the Account
b. Declared and paid during the year; ratified at Equity dividends on ordinary shares paid: Equity dividends on preference shares paid:	- -	- -
	-	-

9 Cash and balances with central bank Cash on hand	26,040,180	24,790,960
Deposits with the Central Bank Less: Allowance for impairment losses	249,482,624 (876,700)	107,165,390
	274,646,104	131,956,350
10 Due from banks
Placements with banks and discount houses	5,382,846,187	5,064,955,799
Balances with banks within Nigeria	971,290,220	404,891,876
Less: Allowance for impairment losses	6,354,136,407 -	5,469,847,675 -
	6,354,136,407	5,469,847,675
11 Loans & Advances
a By Product Type Mortgage Loans	35,304,275,359	17,826,934,404
Other Loans	243,902,066	63,957,600
Gross Loans	35,548,177,424	17,890,892,004
Impairment	(784,939,335)	(518,042,028)
	34,763,238,089	17,372,849,976

12	Quarter Ended 31 March, 2026 Notes to the Financial Statements Financial investments	31 March 2026 N	31 March 2025 N
	FVOCI	1,495,982,320	908,133,329
	Hels at Amortised Cost	440,243,551	381,215,196
		1,936,225,870	1,289,348,525
13	Other assets Prepayments	149,351,102	149,489,294
	stationery stocks	-	1,002,451
	Other stocks	608,087,638	188,829,965
	Account receivables	50,357,218	25,291,753
	Other debits balances	177,736,740	330,374,525
	Less:	985,532,698	694,987,987
	Allowance for impairment on other assets	(478,583)	(1,355,283)
		985,054,115	693,632,704
14a	Property and equipment Land Cost	431,026,720	431,026,720
	Accummulated Depreciation
	Net Book value	431,026,720	431,026,720
	Buildings Cost	4,239,643,016	4,228,058,738
	Accummulated Depreciation	(679,221,236)	(636,853,226)
	Net Book value	3,560,421,780	3,591,205,512
	Work in Progress Cost	25,048,038	9,997,014
	Accummulated Depreciation	-	-
	Net Book value	25,048,038	9,997,014
	Plant & Equipment Cost	317,562,587	298,798,187
	Accummulated Depreciation	(260,032,207)	(241,355,106)
	Net Book value	57,530,379	57,443,081
	Computer and Equipment Cost	223,094,203	117,705,153
	Accummulated Depreciation	(101,492,337)	(83,085,946)
	Net Book value	121,601,866	34,619,207
	Furn & Fittings: Cost	74,148,770	72,873,022
	Accummulated Depreciation	(68,454,522)	(65,683,641)
	Net Book value	5,694,247	7,189,380
	Motor Vehicles Cost	384,175,375	210,731,000
	Accummulated Depreciation	(175,913,927)	(146,419,591)
	Net Book value	208,261,448	64,311,409
	Total Property and Equipment Cost	5,694,698,708	5,369,189,834
	Accummulated Depreciation	(1,285,114,230)	(1,173,397,511)
	Property and equipment	4,409,584,479	4,195,792,323
14b Current Depreciation Charge
	Furn & Fittings	683,713	741,051
	Buildings	10,600,717	7,952,591
	Computer Equipment	5,843,293	3,003,563
	Motor Vehicles	9,808,305	4,784,232
	Plant & Equipment	4,563,003	4,481,426
		31,499,032	20,962,864
15a	Intangible assets
	Computer Software Cost	147,466,843	116,536,528
	Accummulated Amortisation	(94,348,882)	(79,908,289)
	Net Book value	53,117,961	36,628,239
15b Amortisation charge for the year Computer Software		3,968,091	2,901,317
		3,968,091	2,901,317
16 Deferred tax Deferred tax laibilities Deferred tax assets		-	-
		-	-
17 Non Current Assets Held for Sale		-	-
18 Due to customers Analysis by type of account:

31 March	31 March 2025 N 2,877,547,802 427,206,858 5,083,620,961 8,388,375,621 3,232,644,994 1,818,311,880 2,798,888,889
2026
N
4,203,652,672
523,993,002
6,247,698,672
10,975,344,347
3,073,020,681
4,704,794,887
1,772,222,222
12,083,510,704
21,633,548,494	7,849,845,763
183749164	10,406,456
554,311,526	331,958,933
738,060,690	342,365,389
1,609,632,847	949,062,629
156,286,899	66,091,082
897,680	4,837,204
377,745,746	246,629,943
62,027,061	59,668,920
1,501,656,002	917,793,601
3,708,246,234	2,244,083,379
5,000,000,000	5,000,000,000
2,085,222,860	2,085,222,860
600,000,000	600,000,000
607,648,996	603,133,329

Quarter Ended 31 March, 2026 Notes to the Financial Statements

Demand Savings

Time deposits

Debt issued and other borrowed funds
Other Long Term Loans FMBN Nigeria Mortgage Refinance Company Development Bank of Nigeria
MRIEF
Current tax liabilities
Deferred Tax Current tax payable
Other liabilities Provision and accrual Sundry Creditors Unclaimed Dividend Other Payables
Rent Received in Advance
Proposed Dividend
Issued capital and reserves
10,000,000,000 ordinary shares of 50 kobo each
Ordinary shares
Issued and fully paid:
4,170,445,720 ordinary shares of 50k each
7% Irredeemable Convertible Preference Shares
Fair Value Reserve
The fair value reserve arose as a result of the valuation of NMRC shares based level 2 IFRS-13 Valuation observable data
STATEMENT OF COMPLIANCE
The financial statements and accompaning notes have been drawn up in compliance with IAS 34
OTHER DISCLOSURES
1. The same accounting policies and methods of computation are followed in the interim financial statements as were used in the last audited financial statements of the bank
2. The Bank prepares interim financial statements for publication and submission to Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) on a quarterly basis.
3. There are no events after the reporting date which could have had a material effect on the interim statements as at 31 March 2026.

FREE FLOAT

NAME:	INFINITY TRUST MORTGAGE BANK PLC
BOARD LISTED	MAIN BOARD
YEAR END	Mar-26
REPORTING PERIOD	QUARTER 1, 2026
SHARE PRICE AT END OF REPORTING PERIOD	N19.00 (2025: N20.07)

	Mar-26		Dec-25
	Unit	Percentage 100	Unit	percentage 100
Description
Issued Share Capital	4,170,445,720		4,170,445,720
Substantial Shareholdings ( 5% and above )
Adkan Services	689,307,635	16.5%	688,879,135	17%
Labid Investment	450,000,000	10.8%	450,000,000	11%
Royal Mills Foods	300,000,000	7.2%	300,000,000	7%
Decimal Links Limited	250,000,000	6.0%	250,000,000	6%
Notec Ventures Limited	250,000,000	6.0%	250,000,000	6%
Veritas Packaging Company Limited	250,000,000	6.0%	250,000,000	6%
Engr. Adeyinka Bibilari	1,278,219,720	30.6%	1,278,219,720	31%
Total Substantial Holdings	3,467,527,355	83.1%	3,467,098,855	83%
Directors Shareholdings
AHMED JAMES JIMMY ODEGWAI & AHMED JANE .F	123,490	0.0%	123,490	0.0%
ENIOLA BIBILARI	100,000	0.0%	100,000	0.0%
Dr.Nkechi Bibilari ( Direct )	200,000	0.0%	200,000	0.0%
Dr. OLABANJO OBALEYE	250,000,000	6.0%	250,000,000	6.0%
Total Directors Holding	250,423,490	6.0%	250,423,490	6.0%
Free Float in Units and Percentage	452,494,875	10.85%	452,923,375	10.86%
Free Float in Value	3,167,464,125		3,170,463,625

ITMB Plc with a free float percentage of 10.86% as at 31 MARCH, 2026 has not fully complied with the Exchange's free float

requirements for companies listed on the Main Board

ITMB Plc with a free float percentage of 10.86% as at 31 DEC, 2025 has not fully complied with the Exchange's free float

requirements for companies listed on the Main Board

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