Infinity Trust Mortgage Bank Plc has released its unaudited full year 2022 results, reporting a pre-tax profit of N656.93 million.

This represents a 479% increase from the N113.334 million the company reported during the same period in 2021. 

Gross earnings   
2022 FY: N1.757 billion 

2021 FY: N455.47 million 

Change: +258% 

Total operating income   
2022 FY: N1.500 billion 

2021 FY: N376.08 million 

Change: +297% 

Total operating expenses  
2022 FY: N821.86 million 

2021 FY: N258.62 million 

Change: +217% 

Pre-tax profit  
2022 FY: N656.93 million 

2021 FY: N113.33 million 

Change: +479.6% 

Net Profit after tax 
2022 FY: N542.49 million 

2021 FY: N105.45 million 

Change: +414% 

Bottom line: The growth in pre-tax profits was due to the increase in interest income boosted by loans and advances to customers and credit-related fees and commissions.