Infinity Trust Mortgage Bank PlcNSENG: INFINITY

Quarter 2 - financial statement for 2025

Jul 28, 2025 at 5:26 PM UTC · Issued by Infinity Trust Mortgage Bank Plc

INFINITY TRUST MORTGAGE BANK PLC

INTERIM UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED

30 JUNE 2025

STATEMENT TO THE NIGERIAN STOCK EXCHANGE AND THE SHAREHOLDERS ON THE EXTRACT OF THE UNAUDITED RESULTS FOR THE HALF YEAR ENDED 30 JUNE, 2025.
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 Half Year Ended 30 June, 2025 which was approved by the Board on 04 July, 2025.
Infinity Trust Mortgage Bank Plc
Statement of Comprehensive Income
for the Half Year ended 30 June, 2025		Jan - June	Jan - June	April - June	April - June	Jan - Dec
	NOTES	2025	2024	2025	2024	2024
		Unaudited	Unaudited	Unaudited	Unaudited	Audited
		N	N	N	N	N
Turnover		2,797,316,479	1,793,426,155	1,511,843,503	931,635,353	4,393,655,073
Interest and similar income	1	2,338,605,629	1,548,023,618	1,255,816,011	807,583,657	3,583,306,193
Interest and similar expense	2	(769,599,534)	(454,687,525)	(427,961,155)	(261,634,596)	(1,132,369,561)
		1,569,006,095	1,093,336,092	827,854,856	545,949,062	2,450,936,632
Net Fees and commission income	3	111,520,792	58,301,182	70,010,965	28,114,602	100,230,184
Net fee and commission income		111,520,792	58,301,182	70,010,965	28,114,602	100,230,184
Other operating income	4	347,190,058	187,101,355	186,016,527	95,937,093	710,118,695
				-	-
Total operating income		347,190,058	187,101,355	186,016,527	95,937,093	710,118,695
Credit loss gain (expense)	5	(3,986,497)	(11,965,057)	(3,986,497)	6,442,352.00	(199,383,197)
Net operating income		2,023,730,447	1,326,773,572	1,079,895,851	676,443,109	3,061,902,315
Personnel expenses	6	271,730,011	200,302,569	137,731,119	96,613,014	433,733,012
Depreciation of property and equipment	16b	45,266,435	42,905,246	24,303,571	28,982,893	87,404,975
Amortisation of intangible assets	15b	5,862,273	4,753,320	2,960,956	2,376,660	9,894,587
Other operating expenses	7	395,096,260	329,934,148	210,678,929	163,209,693	808,275,487
				-	-
Total operating expenses		717,954,980	577,895,282	375,674,575	291,182,259	1,339,308,061
Profit before tax		1,305,775,468	748,878,290	704,221,276	385,260,850	1,722,594,254
Tax expense		(60,778,368)	(30,410,009)	(259,456)	(3,138,701)	(241,364,871)
				-	-
Profit after Tax		1,244,997,100	718,468,281	703,961,820	382,122,149	1,481,229,383
Other Comprehensive Income				-	-	-
Total Comprehensive Income		1,244,997,100	718,468,281	703,961,820	382,122,149	1,481,229,383

Earnings per share - Basic (Kobo)		57.69	32.44	63.49	32.62	35.52
The notes on pages 5 to 7 are an integral part of these financial statements.

INFINITY TRUST MORTGAGE BANK

PLC

Statement of Financial Position

Half Year Ended

Year Ended

As at 30 June 2025

NOTES

30 June

31 Dec

2025

2024

Unaudited

Audited

Assets

Cash and balances with Central Bank

132,775,780

122,781,705

113,036,360

Due from banks

6,143,121,465

2,786,546,513

3,478,016,130

Loans and advances to customers

21,118,322,328

16,397,811,642

16,194,181,832

Investment Securities

- FVOCI

908,133,329

375,499,998

908,133,329

- Held at amortised Cost

394,672,888

710,050,159

719,837,745

Other assets

1,027,188,041

853,524,193

1,031,169,241

Deferred tax assets

7,500,000

Intangible assets

41,206,084

14,212,488

36,304,555

Property and equipment

4,196,754,777

2,642,703,810

2,669,294,803

33,962,174,692

23,910,630,507

25,149,973,995

Non current assets held for sale

Total Assets

33,962,174,692

23,910,630,507

25,149,973,995

Liabilities

Due to customers

11,550,037,992

5,869,259,381

5,964,395,242

Debt issued and other borrowed funds

9,668,900,376

8,479,708,660

8,317,497,229

Current tax liabilities

276,907,027

159,793,722

271,440,022

Other liabilities

1,396,981,836

2,205,110,983

1,386,021,029

Total liabilities

22,892,827,231

16,713,872,746

15,939,353,522

Equity

Issued share capital

2,085,222,860

Preference shares

600,000,000

Share premium

1,227,369,465

Statutory reserve

1,458,233,883

1,161,988,007

1,458,233,884

Retained earnings

1,879,841,843

1,597,092,462

2,797,635,443

Revaluation reserve

1,736,120,802

204,597,313

Regulatory risk reserve

234,428,179

249,987,656

234,428,179

Fair Value Reserve

603,133,329

70,499,998

603,133,329

Current Year Profit - YTD 2025

1,244,997,100

Total Equity

11,069,347,461

7,196,757,761

9,210,620,473

Total liabilities and equity

33,962,174,692

23,910,630,507

25,149,973,995

The notes on pages 5 to 7 are an integral part of these financial statements.

The financial statements on pages 1 to 7 were approved by the Board of Directors on 04 July, 2025 and signed on its behalf by:

TOLU OSHO

MRS OBALEYE ABISOLA

COMPANY SECRETARY

DIRECT0R

FRC/2017/NBA/00000016418

FRC/2024/PRO/ICAN/004/685184

Also Signed by:

BUKOLA AFARIOGUN

CHIEF FINANCIAL OFFICER

FRC/2021/002/00000024781

________________________

____________________

Infinity Trust Mortgage Bank Plc
Interim Financial Statements
Statement of Cash Flows
for the Half Year Ended 30 June, 2025	Half Year Ended	Half Year Ended
	30 June	30 June
	2025	2024
	N	N
Profit before tax	1,305,775,468	748,878,290
Adjustment for non cash items
Impairment on loans and advances	3,986,497	11,965,057
Depreciation of Property, Plant & Equipment	45,266,435	42,905,246
Amortisation of intangibles	5,862,273	4,753,320
Cashflow before changes in working capital	1,360,890,673	808,501,913
CHANGES IN WORKING CAPITAL
Decrease/(Increase) in Loans and Advances	(4,968,849,247)	(16,724,666,296)
Decrease/(Increase) in Others	3,981,200	(551,560,334)
(Decrease)/Increase in Deposits	5,585,642,750	1,454,947,974
(Decrease)/Increase in Other Liabilities	10,960,807	333,451,006
Tax Paid	(65,717,817)	-
Cash generated from operations	566,017,693	(15,487,827,651)
CASHFLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment	4,063,515	(5,656,942)
Purchase of Intangible Assets	(4,901,529)	4,753,319
Redemption of Investments	325,164,857	(537,409,947)
	324,326,843	(538,313,569)
CASHFLOW FROM FINANCING ACTIVITIES
Dividend Paid	(917,793,601)	(667,566,858)
Receipt of borrowed funds	2,495,519,555	1,949,948,704
Repayments on borrowed funds	(1,144,116,408)	(564,116,408)
	433,609,546	718,265,438
Increase/ (Decrease) in cash and cash equivalent	2,684,844,755	(14,499,373,870)
Cash and cash equivalent as at beginning of period	3,591,052,490	1,776,072,692
Cash and cash equivalent as at end of period	6,275,897,245	(12,723,301,178)
Additional cash flow information
Cash and cash equivalent
Cash on hand (Note 16)	25,610,390	15,616,315
Balances with Banks within Nigeria	107,165,390	107,165,390
Placements with Banks	6,143,121,465	2,786,546,513
	6,275,897,245	2,909,328,218
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)

STATEMENT OF CHANGES IN EQUITY Issued Share Preference Statutory Fair Value Retained Revaluation Regulatory Current Year

	7,864,324,617
	633,477,793
	-
	-
	-
	(208,522,287)
	(42,000,000)
	-
Current Year	9,210,620,473
Unaudited Profit	Total equity
-	9,210,620,473
	-
	-
1,244,997,100	1,244,997,100
	-
	-
	(875,793,601)
	(42,000,000)
	1,531,523,489
1,244,997,100	11,069,347,461

Capital Premium Shares Reserves Reserves Earnings Reserves Reserves Unaudited Profit Total equity N N N N N N N N At 1 January, 2024 Transfer to retained earnings Transfer to statutory reserve

Transfer to regulatory Risk reserve

Transfer to fair value reserve Ordinary Dividend Paid Preference Dividend Paid

Fair Value (Equity Investment )

2,085,222,860 - 249,987,657

(15,559,478)

1,227,369,465	600,000,000	1,161,988,007	70,499,998	2,264,659,317	204,597,313
-	-			1,481,229,383
		296,245,877		(296,245,877)
				15,559,478
				(625,566,858)
				(42,000,000)
		-	532,633,331
1,227,369,465	600,000,000	1,458,233,884	603,133,329	2,797,635,443	204,597,313
Share	Preference Shares N	Statutory Reserves N	Fair Value Reserves N	Retained Earnings N	Revaluation
Premium					Reserves
N					N
1,227,369,465	600,000,000	1,458,233,884	603,133,329	2,797,635,443	204,597,313
-	-
-	-
-	-
				(875,793,601)
				(42,000,000)
					1,531,523,489
1,227,369,465	600,000,000	1,458,233,883	603,133,329	1,879,841,843	1,736,120,802

At 31 December, 2024 2,085,222,860 234,428,179 At 1 January 2025

Fair Value (IFRS-13)

Transfer to retained earnings (Unaudited) Transfer to statutory reserve

Transfer to regulatory Risk Ordinary Dividend Paid_Proposed Preference Dividend Paid_Proposed Gain on Revaluation

At 30 June , 2025 Issued Capital N 2,085,222,860

2,085,222,860 Regulatory Reserves N 234,428,179 234,428,179 Dividend

The Bank paid 21k dividend for Ordinary Shareholder and 7k for Preference Shareholder. 875.7million for Ordinary Shareholder and 42million for Preference shareholders. The amount has been paid to the shareholder after the AGM ( Note 8)

Page 4

INFINITY TRUST MORTGAGE BANK PLC Notes to the Financial Statements		Period from Jan - June
For the half year ended 30 June, 2025.		2024
1 Interest and similar income		N
National Housing Fund Loans		79,857,639
Estate Mortgage Income		138,467,656
Other Mortgage Loans and advances to customers		1,186,702,336
Treasury Operations and Placements		142,995,987
		1,548,023,618
2 Interest and similar expense:
Customers Deposits		98,136,540
Debt issued and other borrowed funds		356,550,985
		454,687,525
3 Net fees and commission income Fees and commission income Credit related fees and commission		44,683,348
Account maintenance fees		13,464,373
Facilities management fees		32,462
Other commissions		121,000
		58,301,182
4 Other operating income Investment Income		170,500,000
Rental Incomes		9,907,357
Others		6,693,998
		187,101,355
5 Impairment losses
Credit loss expense		11,965,057
6 Personnel expenses Salaries and Wages		163,852,928
Other staff costs		25,063,506
Pension costs - Defined contribution plan		11,386,135 -
		200,302,569
7 Other operating expenses Advertising and marketing		4,429,048
Administrative		45,919,074
Professional fees		5,461,459
Others		274,124,566
		329,934,148
8 Dividends paid Declared and paid during the year
Equity dividends on ordinary shares:		625,566,858
Equity dividends on preference shares:		42,000,000
		667,566,858
9 Cash and balances with central bank Cash on hand		15,616,315
Deposits with the Central Bank Less: Allowance for impairment losses		107,165,390
		122,781,705
10 Due from banks Placements with banks		2,224,287,022
Balances with banks within Nigeria		562,259,491
		2,786,546,513
		2,786,546,513
11 Loans & Advances a By Product Type Mortgage Loans		16,694,048,867
Other Loans		56,656,154
Gross Loans		16,750,705,020
Impairment		(352,893,379)
		16,397,811,642
12 Investment Securities FVOCI		375,499,998
Held at Amortized Cost		710,050,159
		1,085,550,157
13 Other assets Prepayments		69,405,212
stationery stocks		2,614,951
Other stocks		655,565,622
Account receivables		25,770,753
Other debit balances		100,355,656
Less:		853,712,193
Allowance for impairment on other assets		(188,000)
		853,524,193
14 Deferred tax Deferred tax Assets BF		-
Deferred tax assets written down		7,500,000
		(7,500,000)
15 Intangible assets
Computer Software Cost		86,078,193
Accumulated Amortization		(71,865,705)
Net Book value		14,212,488
15 Amortization charge for the year Computer Software		4,753,320

Period from	Period from
April - June	April - June
2025	2024
N	N
36,278,969	38,930,785
108,934,231	69,306,602
865,079,887	612,218,135
245,522,925	87,128,136
1,255,816,011	807,583,657
201,091,836	50,874,398
226,869,319	210,760,198
427,961,155	261,634,596
59,687,653	20,427,582
10,273,413	7,616,020
-	-
49,900	71,000
70,010,965	28,114,602
	-
134,500,000	102,307,357
47,253,969	-
4,262,558	- 6,370,264
186,016,527	95,937,093
	-
3,986,497	(6,442,352)
104,210,047	80,197,286
26,140,166	10,639,005
7,380,906	5,776,723
-	-
137,731,119	96,613,014
7,184,424	2,894,786
27,158,097	16,456,686
8,249,014	2,978,180
168,087,395	140,880,041
210,678,930	163,209,693

Period from Jan - June 2025 N 73,521,480 181,000,727 1,579,120,869 504,962,554
2,338,605,629
346,365,029 423,234,505
769,599,534
92,198,649 19,179,597 30,045 112,500
111,520,792
287,412,500 47,253,969 12,523,589
347,190,058

3,986,497
208,576,872 48,094,550 15,058,589 -
271,730,011
8,461,034 64,279,482 17,375,577 304,980,167
395,096,260
875,793,601 42,000,000
917,793,601
25,610,390 107,165,390
132,775,780
5,908,214,674 234,906,791
6,143,121,465
6,143,121,465
21,610,018,082 60,818,816
21,670,836,898 (552,514,570)
21,118,322,328
908,133,329 394,672,888
1,302,806,217
53,122,087 1,002,451 533,207,985 25,123,253 416,087,548
1,028,543,324 (1,355,283)
1,027,188,041
- -
-
124,075,329 (82,869,245)
41,206,084
5,862,273

Notes to the Financial Statements For the half year ended 30 June, 2025.	Jan - June 2024	April - June 2025	April - June 2024
	N	N	N

	4,753,320
16 Property and equipment Land Cost	235,315,028
Accumulated Depreciation
Net Book value	235,315,028
Buildings Cost	2,877,092,047
Accumulated Depreciation	(614,265,300)
Net Book value	2,262,826,748
Work in Progress Cost Accumulated Depreciation
Net Book value	-
Plant & Equipment Cost	309,375,949
Accumulated Depreciation	(238,212,775)
Net Book value	71,163,174
Computer and Equipment Cost	115,751,153
Accumulated Depreciation	(72,639,855)
Net Book value	43,111,298
Furn & Fittings: Cost	72,062,102
Accumulated Depreciation	(62,815,964)
Net Book value	9,246,137
Motor Vehicles Cost	152,891,000
Accumulated Depreciation	(131,849,575)
Net Book value	21,041,425
Total Property and Equipment Cost	3,762,487,279
Accumulated Depreciation	(1,119,783,469)
Property and equipment	2,642,703,810
16 Current Depreciation Charge
Furn & Fittings	2,354,047
Buildings	14,644,335
Computer Equipment	6,958,754
Motor Vehicles	9,964,040
Plant & Equipment	8,984,070
	42,905,246
17 Non Current Assets Held for Sale	-
18 Due to customers Analysis by type of account: Demand	3,212,251,974
Savings	1,181,029,227
Time deposits	1,460,802,594
Interest Payable	15,175,586
	5,869,259,381
19 Debt issued and other borrowed funds
Other Long Term Loans FMBN	3,319,056,876
Nigeria Mortgage Refinance Company	1,938,429,562
DBN MRIEF On-lending Fund	3,222,222,222
	8,479,708,660
20 Tax liabilities Tax liabilities BF	129,383,712
Current tax payable	30,410,009
21 Other liabilities	159,793,722
Provision and accrual	206,305,708
Sundry Creditors	94,855,735
Unclaimed Dividend	4,752,813
Other Payables	1,180,728,446
Current Year profit to Date	718,468,281
	2,205,110,983
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	5,000,000,000 2,085,222,860 600,000,000

Jan - June 2025 N
5,862,273
431,026,720
431,026,720
4,228,058,738 (647,442,324)
3,580,616,414
9,997,014
9,997,014
305,813,587 (246,113,772)
59,699,815
135,955,778 (86,562,671)
49,393,107
72,873,022 (66,378,491)
6,494,530
210,731,000 (151,203,824)
59,527,176
5,394,455,859 (1,197,701,082)
4,196,754,777
1,435,901 18,541,689 14,785,784 9,568,465 934,597
45,266,435
-
5,972,246,906 1,151,515,387 4,321,940,318 104,335,380
11,550,037,992

3,182,114,372 1,791,441,560 3,089,444,444 1,605,900,000
9,668,900,376
216,128,659 60,778,368 276,907,027 218,705,089 110,089,752 4,837,204 1,063,349,790 -
1,396,981,836
5,000,000,000
2,085,222,860
600,000,000

STATEMENT OF COMPLIANCE
The financial statements and accompanying 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 30 June 2025.


FREE FLOAT
NAME:	INFINITY TRUST MORTGAGE BANK PLC
BOARD LISTED	MAIN BOARD
YEAR END	Jun-25
REPORTING PERIOD	QUARTER 2, 2025
SHARE PRICE AT END OF REPORTING PERIOD	N7.70 (MARCH 2025: N7.1)

	Jun-25		Mar-25
	Unit	Percentage	Unit	percentage
Description
Issued Share Capital	4,170,445,720	100	4,170,445,720	100
Substantial Shareholdings ( 5% and above )
Adkan Services	689,287,635	17%	689,287,635	17%
Labid Investment	450,000,000	11%	450,000,000	11%
Royal Mills Foods	300,000,000	7%	300,000,000	7%
Decimal Links Limited	250,000,000	6%	250,000,000	6%
Notec Ventures Limited	250,000,000	6%	250,000,000	6%
Veritas Packaging Company Limited	250,000,000	6%	250,000,000	6%
Zuma Paint & Manufacturing Company Limited	200,000,000	5%	200,000,000	5%
Paramount Wood-Work & Manufacturing Limite	200,000,000	5%	200,000,000	5%
Olabanjo Obaleye	250,000,000	6%	250,000,000	6%
Engr. Adeyinka Bibilari	1,278,219,720	31%	1,278,219,720	31%
Total Substantial Holdings	4,117,507,355		4,117,507,355	99%
Directors Shareholdings
AHMED JAMES JIMMY ODEGWAI & AHMED JAN	123,490	0.0%	123,490	0.0%
ENIOLA BIBILARI	100,000	0.0%	100,000	0.0%
Dr.Nkechi Bibilari	200,000	0.0%	200,000	0.0%
Total Directors Holding	423,490	0.0%	423,490	0.0%

Free Float in Units and Percentage	52,514,875	1.26%	52,514,875	1.26%
Free Float in Value	404,364,538		372,855,613

ITMB Plc with a free float percentage of 1.26% as at 30 June, 2025 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 1.26% as at 31 March 2025 has not fully complied with the Exchange's free float
requirements for companies listed on the Main Board

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