Infinity Trust Mortgage Bank Plc has unveiled plans to raise N50 billion through private placement to bolster its capital base and support future growth initiatives.
The bank’s Chairman, Ene Iyana, announced the capital raise during a presentation at the Nigerian Exchange Limited, highlighting the bank’s goal of enhancing financial inclusion and solidifying its leadership in Nigeria’s mortgage industry.
The funds will be sourced from private individuals, institutional investors, and the broader investment community, with a significant portion earmarked for stability reserves and technology investments.
The bank’s commitment to technological advancements is central to its growth strategy, with 20 percent of the raised funds allocated to technology investments aimed at reducing operational costs and improving customer service.
Acting CEO Ngozi Chukwu highlighted recent achievements, including a 115 percent increase in dividend payouts and the financing of major projects like Sky View Estate in Lagos, which is currently 40 percent complete.
The estate will offer luxury apartments for 40 families upon completion, expanding the bank’s footprint beyond Abuja.
The Nigerian Exchange Limited’s CEO, Jude Chiemeka, expressed confidence in the market’s capacity to support Infinity Trust Mortgage Bank’s objectives, citing the NGX’s role in facilitating substantial capital raising across various asset classes.
He emphasized the importance of innovative financial instruments like infrastructure bonds in bridging Nigeria’s funding gap and promoting sustainable economic development.