Prime Business AfricaThe total market valuation of mortgage banks in the Nigerian stock market increased by N44.46 billion between January 2 and June 20, according to Prime Business Africa’s analysis.
It was gathered that Infinity Trust Mortgage Bank, LivingTrust Mortgage Bank, and Abbey Mortgage Bank, which are the only listed lenders offering mortgage loans in the Nigerian stock market, have a combined market valuation of N81.55 billion at the start of the year before rising to N126.02 billion on June 20.
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Abbey Mortgage Bank
Abbey Mortgage Bank is the most valuable mortgage bank in the Nigerian stock market, according to Prime Business Africa’s analysis, as the company’s market valuation increased to N59.90 billion as of June 20.
In the last five months and three weeks, the mortgage bank’s market capitalisation has increased by N29.44 billion from N30.46 billion recorded on January 2, following a 96.66 percent appreciation in its share price.
The share price had increased by N2.9 kobo year-to-date, as stock market investors were willing to buy the shares of Abbey Mortgage Bank at N5.90 kobo per share on June 20, compared to its trading price of N3 as of January 2.
LivingTrust Mortgage Bank
LivingTrust Mortgage Bank rose to the second position on the list of the most valuable mortgage bank stocks during the period with N34 billion market capitalisation as of June 20.
According to the market analysis of its performance, LivingTrust Mortgage Bank’s market valuation rose by N12.10 billion from N21.90 billion recorded on January 2 to surpass Infinity Trust Mortgage Bank on the list.
This was made possible by a 55.25 percent or N2.42 kobo increase in LivingTrust Mortgage Bank’s share price, which appreciated from N4.38 kobo to N6.80 kobo during the period under review.
Infinity Trust Mortgage Bank
Infinity Trust Mortgage Bank was ranked as the third most valuable mortgage bank in the Nigerian bourse after its market value increased from N29.19 billion to N32.11 billion year-to-date.
Despite the N2.91 billion increase in its market capitalisation, Infinity Trust Mortgage Bank dropped on the list, settling at third position as of the time of filing this report, from the second spot it held at the start of the year.
The company’s share price rising by just 10 percent to N7.70 kobo from N7, made Infinity Trust Mortgage Bank go from competing with Abbey Mortgage Bank for the top spot to relinquishing its second position to LivingTrust.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
