LivingTrust Mortgage Bank Plc’s Recognition for MSME Support and Innovation
LivingTrust Mortgage Bank Plc has been honored with the Development Bank of Nigeria (DBN) Innovation Award in the Other Financial Institution category for the 2024 financial year. This prestigious accolade, presented by DBN, a prominent development finance institution, acknowledges LivingTrust’s exceptional commitment to fostering the growth of micro, small, and medium-sized enterprises (MSMEs) in Nigeria. The award also acknowledges LivingTrust’s innovative financing practices, which have contributed to the resilience of small businesses amidst challenging economic conditions.
DBN, jointly owned by esteemed international financial institutions and the Nigerian government, highlighted LivingTrust’s significant role in MSME financing, particularly in a challenging macroeconomic environment. The bank’s unwavering dedication to providing innovative financial solutions that empower small businesses to flourish has set it apart in the financial sector. This recognition underscores the importance of customized financial products and services that cater to the specific needs of MSMEs, enabling them to overcome financial obstacles and contribute meaningfully to economic growth.
LivingTrust Mortgage Bank’s Managing Director, Adekunle Adewole, expressed gratitude for the award, emphasizing the bank’s unwavering focus on innovation and inclusive finance. He stressed the bank’s commitment to delivering tailored financial solutions that empower small businesses to navigate economic headwinds and achieve sustainable growth. This award further reinforces LivingTrust’s resolve to amplify its impact within the MSME sector, contributing significantly to Nigeria’s economic development. The bank’s strategic focus on MSMEs underscores its belief in their crucial role as drivers of economic progress, and its commitment to providing the necessary financial support to unlock their full potential.
Furthermore, LivingTrust Mortgage Bank Plc has announced a remarkable profit of N981.2 million for the financial year ending December 31, 2024, marking one of the highest profit figures in the bank’s history. This achievement, as disclosed in the bank’s audited financial statement, reflects its robust financial performance and strategic business approach. The impressive profit underscores the bank’s ability to navigate economic complexities and deliver strong financial results, reinforcing its position as a key player in the Nigerian financial landscape.
The remarkable financial performance of LivingTrust Mortgage Bank Plc has further strengthened its commitment to MSME development. By showcasing its ability to generate strong profits, the bank has solidified its capacity to provide sustained financial support to small businesses, fostering their growth and contributing to broader economic development. This synergistic approach of financial stability and MSME support positions LivingTrust as a vital catalyst for inclusive growth in the Nigerian economy.
In conclusion, LivingTrust Mortgage Bank Plc’s recognition through the DBN Innovation Award and its impressive financial results demonstrate its pivotal role in supporting MSMEs and driving economic growth. The bank’s unwavering dedication to innovation, inclusive finance, and sustainable solutions positions it as a significant force in fostering economic development and empowering small businesses in Nigeria. The convergence of its strong financial position and commitment to MSME development underscores its significant contribution to the growth and resilience of the Nigerian economy.
