TrustBond mortgage offers affordable home financing

TOWARDS reducing the nation’s housing deficit estimated at 17 million units, Trust Bond Mortgage Bank Plc has announced plans to engage in affordable home financing in all parts of the country, and offer of innovative products that would cater for different needs of the populace.

The company will also ensure compliance with the relevant regulatory requirements and improve its profitability as well as embrace the use of technology in meeting the needs of our clientele.

The bank’s Chairman, Etigwe Uwa, who made this known during the company’s annual general meeting in Lagos, noted that the new shift in Central Bank of Nigeria (CBN) operational guidelines, permissible activities for Primary Mortgage Banks (PMBs) are mortgage finance, real estate construction finance and acceptance of deposits, have brought the re-awakening that mortgage firms are ‘banks’ and not real estate management firms.

Uwa disclosed that technological devices such as mobile banking App would add more value to the shares of the bank and enhance its operations.

“We are therefore investing in stable and efficient information technology infrastructure to provide e-banking platform for customer service. These include ATM, on-line banking and funds transfers through the Nigeria Inter-Bank Settlement Systems (NIBSS) platform to enhance our customer service experience nationwide,” he said.

In 2014, the gross earnings of the company increased by 5.3 per cent per cent from N802.36 million in 2013 to N844.83 million in 2014.  Loss from continuing operations after tax in 2014 reduced to N40.98 million from N76.26 million in 2013, while profit after tax in 2014 for discontinued operation reduced to N69.17 million from N139.56 million in 2013.

However, profit after tax and other comprehensive income for the financial year increased to N113.94 million from N63.77 million in 2013.

The company’s Managing Director, Adeniyi Akinlusi stated that the Bank has been involved in new strategic initiatives and programs involving key stakeholders in the industry. “We intend to continue to be an important player in the creation of value for aspiring individual home owners and estate developers while etching the TrustBond brand in every aspect of the real estate development finance value-chain,” he said.

His words: “We are changing our business dramatically from reliance solely on branch banking for customer engagement to multi-channel banking in response to the dynamic lifestyle of our customers in a constantly changing business environment and customer preference.
“We have also embraced the sustainable banking principles and our activities in coming years would align with the sustainable development goals of United Nations as applicable.”


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