{"id":12401,"date":"2020-10-30T13:49:42","date_gmt":"2020-10-30T12:49:42","guid":{"rendered":"https:\/\/www.propertypro.ng\/blog\/?p=12401"},"modified":"2020-10-30T13:49:42","modified_gmt":"2020-10-30T12:49:42","slug":"livingtrust-mortgage-bank-posts-n192-million-in-q3-2020","status":"publish","type":"post","link":"https:\/\/propertypro.ng\/blog\/livingtrust-mortgage-bank-posts-n192-million-in-q3-2020\/","title":{"rendered":"LivingTrust Mortgage Bank posts N192 million in Q3 2020"},"content":{"rendered":"<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\">As seen on <a href=\"https:\/\/nairametrics.com\/2020\/10\/30\/livingtrust-mortgage-bank-posts-n192-million-in-q3-2020\/\">Nairametrics. <\/a>LivingTrust Mortgage Bank has announced its unaudited third-quarter 2020 financial results, which showed an impressive performance, as revenue went from N120 million in Q3 2019 to N192 million Q3 2020.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\">This information is contained in the LivingTrust Mortgage Bank unaudited third-quarter 2020 financial results.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\">The company reported an impressive leap in profits in the third quarter of 2020, as profit after tax increased from a meager N3.34 million in the third quarter of 2019 to an impressive N71.43 million in 2020; the company witnessed improvement in its operations, owing to an effective mix of revenue optimization and cost minimization strategies by the management and the board of the company.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\"><strong>What you should know<\/strong><\/span><\/p>\n<div class=\"code-block code-block-16 ai-viewport-1\">\n<div align=\"center\"><\/div>\n<\/div>\n<ul>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\">LivingTrust Mortgage Bank\u2019s turnover was N191.72 million, compared to N120.20 million in the third quarter of 2019.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\">The Mortgage Bank\u2019s profit after tax was N71.43 million, compared to N3.34 million in the third quarter of 2019.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\">The increase in profit after tax was largely driven by interest Income From Mortgage Loans And Advances<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\">To Customers, which increased from N119 million to 170 million.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 18pt;\">The total assets of the company increased from N4.6 billion as of the last day of business in 2019 to N5.3 billion as of 30 September 2020.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"As seen on Nairametrics. LivingTrust Mortgage Bank has announced its unaudited third-quarter 2020 financial results, which showed an&hellip;\n","protected":false},"author":31,"featured_media":12402,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_custom_appearance":"","csco_disable_excerpt_posts_layout":false,"csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[17,37,32],"tags":[2612,3914,2758,4043,1629],"class_list":["post-12401","post","type-post","status-publish","format-standard","has-post-thumbnail","category-featured","category-news","category-real-estate-news","tag-best-mortgage-rates-in-nigeria","tag-buying-and-selling-real-estate","tag-federal-mortgage-bank","tag-living-trust","tag-news","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/12401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/comments?post=12401"}],"version-history":[{"count":1,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/12401\/revisions"}],"predecessor-version":[{"id":12403,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/12401\/revisions\/12403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/media\/12402"}],"wp:attachment":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/media?parent=12401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/categories?post=12401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/tags?post=12401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}