Prime Business AfricaLivingTrust Mortgage Bank has released its second quarter (Q2) financial statements for 2025, which show that the company recorded gross earnings of N1.79 billion, exceeding the N890.41 million reported in Q2 2024.
While the gross earnings increased by 101.13 percent, the company’s interest and similar income rose by 70.39 percent year-on-year, from N699.8 million to N1.19 billion.
Join our WhatsApp ChannelLivingTrust also reported that interest and similar expense grew by 195.07 percent to N960.73 million in the second quarter of this year, compared to the N325.58 million recorded in the same period in 2024.
As a result, net interest income fell by 38.07 percent to N231.71 million during the period under review, falling below the N374.21 million posted in the second quarter of 2024.
However, fee and commission income offset the decline in net interest income, as the former increased by 331.14 percent year-on-year, from N15.80 million to N68.16 million, while it recorded zero fee and commission expenses in Q2 2024 and 2025.
At the end of the period under review, total operating income reached N830.21 million, compared to the N564.83 million reported in Q2 last year, representing an increase of 46.98 percent.
LivingTrust managed to reduce its impairment loss by 94.86 percent to N3.21 million in Q2 2025, compared to the N62.5 million recorded in Q2 2024.
However, following impairment loss deduction, LivingTrust reported N827 million net operating income in the second quarter of 2025, against the N502.33 million recorded in Q2 the previous year, reflecting a 64.63 percent increase.
LivingTrust also reported profit before tax (PBT) of N330.41 million in Q2 2025, recording an increase of 71.04 percent compared to the N193.17 million posted in the corresponding period last year.
Following the increase in its bottom line, the company closed the review period with N11.25 million in income tax, but did not record any taxation for the second quarter in 2024.
Consequently, LivingTrust recorded N319.16 million profit after tax (PAT) in Q2 2025, exceeding the N193.17 million reported in the second quarter last year, representing a increase of 65.22 percent.
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