Prime Business Africa
After experiencing a bullish run in the first quarter (Q1) of 2026, the mortgage bank sector on the Nigerian Exchange (NGX), also known as the stock market, suffered a sell-off in the second quarter (Q2).
Profit-takers wiped off N97.64 billion from the gains recorded in the first quarter by mortgage banks, according to Prime Business Africa’s (PBA) analysis of the stock market performance of Abbey Bank, Infinity Trust Mortgage Bank, and LivingTrust Mortgage Bank.
Join our WhatsApp ChannelThe sell-off affected the combined market valuation of the mortgage banks, as it dropped from N283 billion recorded on April 1 to N185.35 billion on June 30.
Prime Business Africa gathered that the 34.51 percent decline in the combined market valuation was driven mostly by Infinity Trust Mortgage Bank, Abbey Bank, and LivingTrust Mortgage Bank.
How The Mortgage Bank Stocks Performed
Infinity Trust Mortgage Bank
Infinity Trust Mortgage Bank was hit the hardest, as the company’s shareholders suffered a 40.79 percent depreciation in their investments, following the sell-off that rocked the sector.
- The double-digit decline, which represents a N64.64 billion loss within three months, was driven by a N7.75 kobo decrease in Infinity Trust’s share price in the second quarter.
- At the start of the second quarter, a share of the mortgage bank was traded at N19; however, by the end of the same period, equity traders were offering N11.25 kobo, indicating investors’ confidence in the firm’s growth prospects fell.
- Following the share price decline, Infinity Trust’s market value also fell, with the company’s worth plummeting to N93.84 billion on June 30, from N158.48 billion on April 1.
Abbey Bank
The shareholders of Abbey Bank also recorded losses, with the value of their investment depreciating by 26.77 percent, the second-highest decline among its peers in the second quarter.
- Prime Business Africa’s analysis showed that the losses recorded by shareholders of Abbey Bank to the profit-takers amounted to N26.91 billion between April and June.
- The sell-off knocked down Abbey Bank’s share price to N7.25 kobo per share at the end of Q2, from the N9.90 kobo a share was sold at the beginning of the period.
- With the share price depreciating by N2.65 kobo, the market valuation of Abbey Bank decreased to N73.62 billion, from N100.52 billion during the period under review.
LivingTrust Mortgage Bank
The sell-off also spread to LivingTrust Mortgage Bank, where shareholders’ investment value fell by 25.42 percent in the second quarter of this year.
- Following a boom in the first quarter, LivingTrust Mortgage, like its market rivals, experienced a sell-off that pushed its share price down by N1.22 kobo, resulting in a N6.10 billion loss in Q2.
- Equity traders exchanged a share of LivingTrust Mortgage at N3.58 kobo at the end of June, below the asking price of N4.80 kobo at the start of April.
- Consequently, the value of LivingTrust Mortgage Bank dropped to N17.90 billion at the end of the second quarter, compared to the N24 billion recorded at the beginning of the same period.
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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.
