Livingtrust Mortgage Bank PlcNSENG: LIVINGTRUST

Year end - financial statement for 2025

Jan 21, 2026 at 12:03 PM UTC · Issued by Livingtrust Mortgage Bank Plc

LIVINGTRUST MORTGAGE BANK PLC

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

DECEMBER 31, 2025 CONDENSED REPORT

‌STATEMENT TO THE NIGERIAN STOCK EXCHANGE AND THE SHAREHOLDERS ON THE EXTRACT OF THE UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER, 2025. The Board of Directors of LivingTrust Mortgage Bank Plc is pleased to present an extract of the unaudited and interim financial statements for the Year Ended December 31, 2025 which was approved by the Board on 16 January, 2026.

Statement of Comprehensive Income		Jan -December	October-December	Jan -December	October-December
for the Year ended 31 December, 2025		2025	2025	2024	2024
NOTES		UNAUDITED		UNAUDITED
		N	N	N	N
Gross Earnings		6,522,633,528	2,027,448,801	3,725,512,972	1,279,067,799
Interest and similar income	1	4,491,126,232	1,301,580,088	2,899,814,738	940,512,739
Interest and similar expense	2	-3,724,183,728	(1,165,475,111)	-1,378,060,737	-582,643,708
Net interest income		766,942,504	136,104,978	1,521,754,001	357,869,031
Fee and commission income	3	186,553,857	47,693,229	102,677,183	48,824,450
Fee and commission expense		-	-	-	-
Net fee and commission income		186,553,857	47,693,229	102,677,183	26,415,258
Other operating income	4	1,335,377,307	595,747,695	723,021,049	289,730,611
Treasury Bills-Interest Income		509,576,132	82,427,789	-	-
Total operating income		2,798,449,800	861,973,690	2,347,452,235	696,424,092
Impairment loss (charge)/write back	5	-2,720,545	4,599,002	-692,048	-165,487
Net operating income		2,795,729,255	866,572,693	2,346,760,187	696,258,605
Personnel expenses	6	-594,376,883	- 222,101,183	- 508,139,662	-174,871,420
Depreciation of property and equipment	7	-98,209,031	- 57,670,649	-91,195,666	-28,304,546
Amortization of intangible assets	8	-27,547,151	- 11,602,416	-23,208,542	-9,276,410
Other operating expenses	9	-951,702,742	-247,497,867	-535,954,182	-325,534,343
Total operating expenses		-1,705,477,995	-556,798,574	-1,435,612,392	-537,986,720
(Loss)/Profit before tax		1,090,251,261	309,774,118	911,147,795	158,271,885
Income tax credit/(expense)		-78,783,283	- 45,019,019	-56,648,888	-28,324,444
(Loss)/Profit after tax		1,011,467,977	264,755,100	854,498,906	129,947,441
Other Comprehensive income/loss		-	-	-	-
Total Comprehensive Income		1,011,467,977	264,755,100	854,498,906	129,947,441
Basic earnings per share (Kobo)		20.23	5.00	17.09	2.84

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

Page 1

LivingTrust Mortgage Bank Plc		Year Ended	Year Ended
Statement of Financial Position		31-Dec-25	31-Dec-24
Year Ended 31 December 2025	NOTES	Unaudited	Audited
		N	N
Cash and balances with CBN	10	217,226,277	190,318,000
Due from banks	11	12,016,281,064	5,720,741,000
Other Cash Equivalent	12	1,329,379,000	2,485,793,000
Loans and advances to customers	13	17,088,169,530	14,017,322,000
Investment securities	14	98,821,007	107,392,000
Other assets	15	1,042,618,207	946,079,000
Deferred Tax Assets		39,471,432	60,178,000
Property and equipment	16	745,982,251	316,016,000
Intangible assets	17	80,645,034	102,728,000
		32,658,593,802	23,946,567,000
Non-current assets held for sale		81,398,946	99,626,000
Total assets		32,739,992,747	24,046,193,000
Liabilities
Due to customers	18	22,152,509,489	15,194,922,000
Debt issued and other borrowed funds	19	2,336,251,323	2,945,056,000
Current tax liabilities		98,940,625	181,982,000
Other liabilities	20	3,100,080,002	672,022,000
Deferred tax Liabilities		-	-
Total liabilities		27,687,781,439	18,993,982,000
Equity
Ordinary share capital	21	2,500,000,000.00	2,500,000,000
Share Premium
Statutory reserve		662,051,670	662,052,000
Retained earnings		1,404,357,568	1,404,357,000
Fair value reserve		-6,641,580	-6,642,000
Regulatory risk reserve		492,443,650	492,444,000
Total equity		5,052,211,309	5,052,211,000
Total liabilities and equity		32,739,992,747	24,046,193,000

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

Dr. Olumide Adedeji	Faheem Aileru
Managing Director/CEO	Financial Controller
FRC/2020/004/00000020523	FRC/2025/PRO/ICAN/001/663468

The Board of Directors of LivingTrust Mortgage Bank Plc is pleased to present an extract of the unaudited financial statements for the Year Ended 31 December, 2025 as approved on 16 January, 2026.

LIVINGTRUST MORTGAGE BANK PLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 ‌Cash flows from operating activities

Profit after tax

‌Adjustment for non-cash items

Impairment charge/ (write back) on loans and advances

Depreciation of property and equipment Amortisation of intangible assets Income tax expense

Cash flows before changes in working capital

‌Changes in working capital

Increase/ decrease in loans and advances Increase / Decrease in other assets Increase/decrease in due to customers Increase/(decrease) other liabilities

Tax paid

‌Net cash from operating activities Cash flows from investing activities; Purchase of property and equipment Purchase of intangible assets

Disposal of non-current assets held for sale Net cash from/(used) investing activities Cash flows from financing activities Repayment of borrowed funds Additional on-lending facility Repayment of on-lending facility Dividend Paid to registrar

‌Net cash from financing activities

Increase in cash and cash equivalents Cash and cash equivalents as at 1 January

‌Cash and cash equivalents as at 31 December 2025 Additional cash flow information‌

Cash and cash equivalents

Cash on hand

Cash deposit with CBN

Balances with banks within Nigeria Placements with banks

Treasury bill investment


Unaudited	Audited
31-DECEMBER-25	31-DECEMBER-24

1,011,467,977	789,141,000

2,720,545	-148,086,000
98,209,031	91,196,000
22,902,985	23,209,000
-	192,059,000
883,485,969	947,519,000

-3,092,927,418	-1,099,380,000
44,251,995	-311,820,000
7,113,577,292	6,051,271,000
-860,707,807	-521,153,000
4,930,075,013	4,118,918,000
-78,783,283	-149,743,000
4,008,896,750	4,953,071,000

- 429,965,872	-32,622,000
22,082,810	-73,856,000
18,226,749	14,671,000
-389,656,312	-91,807,000

-738,659,966	-1,256,468,000
1,692,273,078	1,115,649,000
-	-74,385,000

953,613,111	-215,204,000

4,572,853,548	2,157,778,000
8,396,852,000	3,571,559,000
12,969,705,548	5,729,337,000


35,503,959	3,635,690,000
181,722,317
1,305,555,107
10,117,545,164	2,085,051,000
1,329,379,000
12,969,705,548	5,729,337,000

LIVINGTRUST MORTGAGE BANK PLC STATEMENT OF CHANGES IN EQUITY
AS AT 31, DECEMBER 2025
	Ordinary Share Capital	Share Premium	Statutory Reserves	Retained Earnings	Fair value reserve	Regulatory Risk Reserves	Total equity
At 1 January 2024	2,500,000,000	-	491,151,000	698,889,000	-15,212,000	579,671,000	4,254,499,000
Dividend paid				-			-
At 31 December, 2024	2,500,000,000	-	491,151,000	698,889,000	-15,212,000	579,671,000	4,254,499,000

At 1 January 2025	2,500,000,000	-	662,051,670	1,404,357,568	-6,641,580	492,443,650	5,052,211,309
Dividend paid				-			-
At 31 December, 2025	2,500,000,000	-	662,051,670	1,404,357,568	-6,641,580	492,443,650	5,052,211,309

Page 4

	LIVINGTRUST MORTGAGE BANK PLC	31-DEC-25	31-DEC-24
	Notes to the Management Accounts
	For the Year Ended 31 December 2025	N	N

1	Interest and similar income
	Mortgage Loans to customers	1,325,140,370	837,074,806
	Other Loans and advances to customers	3,165,985,862	2,062,739,932
		4,491,126,232	2,899,814,739
2	Interest and similar expense:
	Mortgage Loans to customers	44,132,067	45,152,153
	Other Loans and advances to customers	3,680,051,661	1,332,908,583
		3,724,183,728	1,378,060,737
3	Fees and commission income
	Credit related fees and commission	146,818,573	69,162,842
	Commission on turnover	37,105,664	30,710,441
	Other commissions	2,629,620	2,803,900
		186,553,857	102,677,183

4	Other operating income
	Investment Income	522,856,132	67,410,534
	Placements with Banks	982,802,261	496,255,030
	Others	339,295,047	159,355,486
		1,844,953,440	723,021,050
5	Impairment losses
	Credit loss expense	-2,720,545	-692,047.57

6	Personnel expenses
	Salaries and Wages	295,657,877	295,569,663
	Other staff costs	266,582,792	182,070,818
	Pension costs - Defined contribution plan	24,420,657	17,295,081
	Pension costs - Defined benefit plan	7,715,557	13,204,100
		594,376,883	508,139,662
	Directors' expenses
	Direct Directors cost	33,642,188	24,925,000
	Other directors cost	-	3,877,113
	Total Personnel expenses	33,642,188	402,312,337

7	Depreciation Charge
	Motor Vehicle	51,680,272	48,276,678
	Office Equipments	8,100,050	7,429,004
	Computer & Equipments	6,168,911	6,672,358
	Furnitures & Fittings	2,636,592	2,876,283
	Household assets	3,406,886	3,591,626
	Plant & Mahinery	11,437,126	13,909,061
	Land & Buildings	12,079,025	5,495,019

	Leasehold improvements	2,700,169	2,945,639
		98,209,031	91,195,666
8	Amortisation charge
	Computer Software	11,830,499	9,622,810
	Other Intangible Assets	15,716,652	13,585,733
		27,547,151	23,208,543

9	Other operating expenses
	Advertising and marketing	8,591,946	13,339,148
	Administrative	298,850,607	201,950,006
	Professional fees	41,698,382	48,866,485
	Diesel ,Energy, Power & Maintenance	681,345,090	548,912,882
		1,030,486,025	813,068,521
		UNAUDITED	AUDITED
		30-DEC-25	31-Dec-24
10	Cash and balances with central bank
	Cash on hand	35,503,959	8,596,000
	Deposits with the Central Bank of Nigeria	181,722,318	181,722,000
		217,226,277	190,318,000
11	Due from banks
	Placements with banks and discount houses	10,117,545,164	3,635,690,000
	Balances with banks within Nigeria	1,305,555,108	2,085,051,000
	Disc Hou/Bank Plcmnts - Interest Receivable	731,614,313	-
		12,154,714,585	5,720,741,000
	Less: Allowance for impairment losses	-138,433,521	-
		12,016,281,064	5,720,741,000

12	Other Cash Equivalent
	Investment in treasury bill	1,329,379,000	500,000,000

13	Loans & Advances
	By Product Type
	Loans & Advances - Mortgage	8,470,233,348	3,869,960,000
	Loans & Advances - Overdrafts	439,477,510	1,655,780,000
	Loans & Advances - Term Loans	8,025,011,071	4,204,039,000
	Loans & Advances- Interest Receivable	319,813,214	4,429,108,000
	Less: Allowance for impairment losses	-166,365,613	-141,565,000
		17,088,169,530	14,017,322,000

14	Investment Security
	Equities	1,043,234	9,614,000
	Unquoted investments	1,043,234
	Debt securities	97,777,773	97,778,000
	Total investment Security	98,821,007	107,392,000

15	Other assets

	Prepayments	1,266,039,865	53,068,000
	Stationery stocks	1,688,512	242,137,000
	Other stocks	4,665,625	523,000
	Account receivables	-160,190,423	795,221,000
	Other debits balances	-69,585,372	-
	Impairment allowance on other assets	-	-144,871,000
		1,042,618,207	946,079,000
16	Total Property and Equipment
	Cost	1,302,351,165	778,596,000
	Accumulated Depreciation	-556,368,915	-462,580,000
		745,982,251	316,016,000

17	Total Intangibles
	Cost	254,405,412	246,489,000
	Accumulated Depreciation	-171,308,719	- 143,761,000
		83,096,694	102,728,000

18	Borrowings
	FMBN	995,281,675	1,114,380,000
	NMRC ON-Lending	1,020,599,350	953,639,000
	DBN ON-Lending	320,370,298	877,037,000
		2,336,251,323	2,945,056,000

19	Due to customers
	Analysis by type of account:
	Demand	8,369,401,007	4,329,417,000
	Savings	2,511,081,723	2,637,285,000
	Time deposits	11,272,026,759	8,228,220,000
		22,152,509,489	15,194,922,000

20	Other liabilities
	Interest payable	583,981,590	7,230,000
	UID and Advance payments	468,989,404	-
	Accounts payable	1,457,243	424,479,000
	Accrued expenses	-	7,230,000
	E-cards and other settlement accounts	-	122,354,000
	Unclaimed dividend payable	-	22,646,000
	Sundry Creditors	862,593,726	-
	Other Payables	171,590,061	-
	Current Year Profit/ loss to date	1,011,467,977	-
	Contribution to pension fund	-	3,138,000
		3,100,080,002	672,022,000

	Issued capital and reserves
	5,000,000,000 ordinary shares of 50K each	2,500,000,000	2,500,000,000
21	Ordinary shares
	Issued and fully paid:

5,000,000,000 ordinary shares of 50 kobo each	2,500,000,000	2,500,000,000

The financial statements and accompanying notes have been drawn up in compliance with IAS 34

‌22. OTHER DISCLOSURES

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
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.
There are no events after the reporting date which could have had a material effect on the interim statements as at 31 December 2025

24. FREE FLOAT
NAME:	LIVINGTRUST MORTGAGE BANK PLC
BOARD LISTED	GROWTH BOARD
YEAR END	DECEMBER
REPORTING PERIOD	QUARTER 4 ENDED December 31, 2025
SHARE PRICE AT END OF REPORTING PERIOD	N6.09 (2024: N3.24)

	Dec-25		Dec-24
	Unit	Percentage	unit	Percentage
Description
Issued Share Capital	5,000,000,000	100	5,000,000,000	100
Substantial Shareholdings (5% and above)
Cititrust Holdings Plc	2,041,087,747	40.82%	2,041,087,747	40.82%
Osun State Government	901,466,695	18.03%	901,466,695	18.03%
Osun State Local Government Areas	1,090,133,708	21.80%	1,090,133,708	21.80%
Adekunle Adewole	369,506,532	7.39%	369,506,532	7.39%
Total Substantial Holdings	4,402,194,682	88.04%	4,402,194,682	88.04%
Directors Shareholdings
Mr. Olanrewaju Afolabi (Indirect)	2,041,087,747	40.82%	2,041,087,747	40.82%
Dr. Kamaldeen Adekilekun(Indirect)	901,466,695	18.03%	901,466,695	18.03%
Mr. Sola Ogungbile (Indirect)	1,090,133,708	21.80%	1,090,133,708	21.80%
Dr. Olumide Adedeji (direct)	24,695,500	0.49%	24,695,500	0.49%
Mrs. Olaitan Aworonke (direct)	24,858,015	0.49%	24,858,015	0.49%

Mr. Timothy Gbadeyan (direct)	1,665,705	0.03%	1,665,705	0.03%
Total Directors Holding	4,083,907,370	81.66%	4,083,907,370	81.66%

Free Float in Units and Percentage	546,586,098	10.93%	546,586,098	10.93%
Free Float in Value
Free Float in Value

LTMB Plc with a free float percentage of 10.93% as at 31 December 2025 is not compliant with The Exchange's free float requirements for companies listed on the Growth Board.
LTMB Plc with a free float value of N1,869,324,455.16 as at 31 December 2025 is compliant with the Exchange's free float requirements for companies listed on the Growth Board.

N3,328,709,336.82 N1,770,938,957.52

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