INFINITY TRUST MORTAGE BANK PLANS 50BN CAPITAL RAISE
Infinity Trust Mortgage Bank Plc has announced its plan to raise N50 billion through a private placement. This capital increase is part of the bank's strategy to strengthen its capital base and support future growth. The announcement was made by the bank's Chairman, Ene Iyana, during a “Facts Behind the Figures” presentation at the Nigerian Exchange Limited (NGX).
The proposed N50 billion capital raise aims to unlock new financial inclusion opportunities while positioning Infinity Trust as a leader in Nigeria's mortgage industry. The funds will be used in strategic areas such as stability reserves (50%) and technology investments (20%).
The bank's Acting CEO, Ngozi Chukwu, highlighted recent achievements, including a 115% increase in dividend payments and the expansion of the bank’s projects beyond Abuja, with a major project currently underway in Lagos.
The CEO of the NGX, Jude Chiemeka, expressed confidence in the market's ability to support the bank's objectives and reiterated the NGX's commitment to promoting infrastructure funding in Nigeria through innovative financial instruments.
This initiative is expected to enhance Infinity Trust Mortgage Bank's operations, increase returns on investment, and strengthen its position in the financial sector.
Infinity Trust Mortgage Bank Plc has announced its plan to raise N50 billion through a private placement. This capital increase is part of the bank's strategy to strengthen its capital base and support future growth. The announcement was made by the bank's Chairman, Ene Iyana, during a “Facts Behind the Figures” presentation at the Nigerian Exchange Limited (NGX).
The proposed N50 billion capital raise aims to unlock new financial inclusion opportunities while positioning Infinity Trust as a leader in Nigeria's mortgage industry. The funds will be used in strategic areas such as stability reserves (50%) and technology investments (20%).
The bank's Acting CEO, Ngozi Chukwu, highlighted recent achievements, including a 115% increase in dividend payments and the expansion of the bank’s projects beyond Abuja, with a major project currently underway in Lagos.
The CEO of the NGX, Jude Chiemeka, expressed confidence in the market's ability to support the bank's objectives and reiterated the NGX's commitment to promoting infrastructure funding in Nigeria through innovative financial instruments.
This initiative is expected to enhance Infinity Trust Mortgage Bank's operations, increase returns on investment, and strengthen its position in the financial sector.