Infinity Trust Mortgage Bank plans N50bn capital raise

Infinity Trust Mortgage Bank Plc has announced plans to raise N50bn through private placement as part of its efforts to strengthen its capital base and drive future growth.

The Chairman of the bank, Ene Iyana, disclosed this at a “Facts Behind the Figures” presentation at the Nigerian Exchange Limited on Thursday.

She stated that the proposed N50bn capital raise through private placement was aimed at unlocking new opportunities for financial inclusion while projecting the bank as a leader in Nigeria’s mortgage industry.

 “We intend to raise this capital from private individuals, institutional investors, and the investment community to capitalise on new opportunities and strengthen our position as a forward-looking financial institution.

“Our story has been one of dedication, consistency, and a commitment to excellence. We are proud that Infinity Trust Mortgage Bank has maintained a strong track record of profitability and dividend payments, even before it was listed on the NGX,” she stated.

According to Iyana, the funds raised will be deployed to key strategic areas, with 50 per cent earmarked for stability reserves, and 20 per cent allocated to technology investments.

“We are fully committed to embracing technology to enhance our operations and deliver better value to our customers. This includes reducing operational costs and improving returns on investment,” she said.

Also, the Acting Chief Executive Officer of Infinity Trust Mortgage Bank, Ngozi Chukwu, highlighted the bank’s recent accomplishments, including a growth in dividend payments.

She stated, “Our dividend payout increased by 115 per cent, reflecting our commitment to delivering value to our shareholders.”

Chukwu also highlighted projects financed by the bank, including the estate in Abuja, adding, “We have also expanded our footprint beyond Abuja, with a major project in Lagos called Sky View Estate, which is currently 40 per cent  complete. When finished, it will provide luxury apartments for 40 families.”

She also reaffirmed the bank’s alignment with the Central Bank of Nigeria’s drive to achieve full financial inclusion.

“We are leveraging data and technology to better understand customer needs and develop relevant digital products,” she explained.

Addressing the capital raising efforts, the Chief Executive Officer of the Nigerian Exchange Limited, Jude Chiemeka, expressed confidence in the market’s ability to support Infinity Trust Mortgage Bank’s objectives.

“The NGX has facilitated capital raising to the tune of N5.7tn across various asset classes through advanced technology and market infrastructure. Our secondary market also ensures liquidity, allowing investors to trade their shares seamlessly,” Chiemeka said.

He stressed the NGX’s commitment to promoting infrastructure funding through innovative financial instruments such as infrastructure bonds and funds.

“These tools are crucial in bridging Nigeria’s funding gap and driving sustainable economic development,” he added.  .