Infinity Trust Mortgage Bank partners DBN, acquires N2.7bn
INFINITY Trust Mortgage Bank has revealed that it was recently granted access of N2.7 billion credit facility for on-lending to its customers by the Development Bank of Nigeria (DBN).
In a statement made available to the Nigerian Stock Exchange (NSE), the bank explained that the onboarding as a participating financial institution was in line with the bank’s vision of deepening mortgage penetration and inclusion in the country.
The Managing Director/Chief Executive Officer of the bank, Mr Olabanjo Obaleye, said that the new partnership with the DBN was one of the key strategic drives of the bank to expand its product offerings to those in the MSMEs sector particularly as they constitute over 90 per cent of enterprises in the country.
He added that it would also help the bank to reach more customers that are self-employed as well as micro, small and medium enterprises that want to purchase commercial properties like shops and offices.
He added that this would also improve financial inclusion for mortgage products, one of its key goals.
Mr Obaleye stated: “Shelter is one of the basic human needs, this is why we are passionate about providing needed mortgage loan to deserving Nigerians particularly those in the MSMEs sector to purchase properties.
“This will further broaden the mortgage penetration depth in the Nigerian market, as we speak we have simplified our processes in such a way that a mortgage loan can be disbursed within three days to an individual, giving that the applicant meets all the mandatory requirements.
“We have streamlined our processes and incorporate the use of technology which has made the disbursement of loan to individuals so fast, making us the leading primary mortgage bank in Nigeria which is reflected in our financial results.”
Mr Obaleye, therefore, appealed to those in the MSMEs sector and small corporates who are interested in accessing mortgage loans to build and purchase a residential or commercial property to visit any of its office locations for thorough guidance and necessary approval.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
North May Back Atiku In 2023 — Yakassai •Says APC should pick Southerner as presidential candidate •‘Tinubu better than Buhari who has no plan’
IF former vice president, Atiku Abubakar, contests for the presidency in the next general election in 2023, the majority of the votes from the North will go to him, elder statesman and politician, Alhaji Tanko Yakassai, has said. Yakassai, a former Liaison Officer to former President Shehu Shagari, described both Abubakar and former Lagos State governor, Senator Bola Tinubu, as potential 2023 presidential contenders…
Buhari Suspends Babalakin As UNILAG Pro-Chancellor, Sacks Acting Vice-Chancellor
President Muhammadu Buhari has suspended the Pro-Chancellor and Chairman of Governing Council of University of Lagos (UNILAG), Dr Wale Babalakin, SAN and the Vice-Chancellor, Professor Oluwatoyin Ogundipe, over the lingering crisis…
‘I Lived As A Beggar. I Begged To Eat, I Begged To Wear Clothes, I Even Begged To Put My Head Under A Roof’
EMMANUELLA Udeh had just finished peeling melon inside the one-storey building she lives in when Saturday Tribune called. Surrounded by a calm environment in Emene, Enugu East Local Government Area of Enugu State, the 39-year-old paraplegic recounted her experience since she was disengaged as a beneficiary of N-Power, a scheme set up by the Federal Government to address the issues of youth unemployment and…
We Pay N250,000 Bribe Per Trip, Lagos Truck Owners Cry Out
On Monday last week, the Lagos State government staved off a planned strike by the Petroleum Tanker Drivers Association (PTDA) in the state over alleged extortion of its members by security operatives and hoodlums in the course of conducting their lawful business…
It’s Sad That Public Servants Depreciate Immediately After Retirement —Osun Ex-HoS, Akinwusi
I must tell you that I am one of the saddest people around because having served the government for a good part of one’s life, 35 years, and retiring with nothing to take home is disheartening. Even when such people were still in the active service, their monthly earnings were not sufficient for them. Before I became the HoS, I was always challenged when I saw people retire and discovered that the quality of their lives depreciated…
El-Rufai’s Humiliation And Mamman Daura’s Curious London Trip
The rescission of the invitation extended to Governor Nasir El-Rufai to speak at the annual conference of the Nigerian Bar Association (NBA) as a consequence of sustained social media pressures from people who are discomfited by his history of intolerance and verbal terrorism against his own people will inflict tremendous violence on the governor’s psychic wellbeing…