Infinity Trust Mortgage Bank earnings hit N1.005bn in 2018

Infinity Trust Mortgage Bank PLC (ITMB) was licensed in 2002 and started business operations in 2003, precisely, 15 years ago. Its registered trade mark Infinity Homes is a reflection of the strong desire of the Bank to create endless opportunities for shelter for every category of Nigerians.

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Infinity Trust Mortgage Bank Plc, said it was able to grow customer deposits from N1.176 billion in 2017 to N2.467bn in 2018, an increase of 110 per cent, despite the harsh operating environment in the country.. Chairman of the bank Dr. Adeyinka Bibilari Annual stated this at the 13th Annual General Meeting (AGM) of the bank held in Abuja on Friday.

Meantime, the dollar hit lows against the euro and the yen. Energy and financial stocks also performed well. Bank of America climbed 4.5% to $9.40. Citigroup rallied 4.25 to $34.45. 3:52 We’ll.

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Lagos – The two labour unions at the Federal Inland Revenue Service (FIRS) have reassured Nigerians, the Federal Government and FIRS management that they will ensure that the N8.8 trillion revenue target for 2019 is realised. Comrade Okere Samson, Chairman, FIRS chapter of the Association of Senior Civil Servants of Nigeria (ASCSN), and Comrade Idris Hassan [.]

 · Infinity Trust Mortgage Bank Plc has declared a final dividend of 3 kobo per 50 kobo ordinary share for the financial period ended Monday, December 31, 2018. Come Thursday, May 30, 2019, the dividends will be paid electronically to shareholders whose names appear on the Register of Members as at Wednesday, April 24, 2019 .

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Since a particular source of income for some borrowers involves a trust fund, it raises an important question. Can trust income be used as verifiable income for an FHA mortgage loan? Does it qualify? Yes, trust fund income can qualify–if that trust income meets fha loan minimum standards as described in HUD 4155.1.