Infinity Trust Mortgage Bank (ITMB) is among the institutions to access N2.7 billion fund from the Development Bank of Nigeria (DBN) to lend enterprises, the bank has said.
The bank’s spokesman, Akinwale Ishola, in a statement said the mortgage loan will further enhance the vision of the bank to deepen mortgage penetration and inclusion.
Its Managing Director/CEO, Dr. Olabanjo Obaleye, said the new partnership with DBN was one of the key strategic drives of the bank to expand its product offerings to those in the Micro, Small and Medium-scale Enterprises (MSMEs) which constitutes over 90 percent of enterprises in Nigeria.
“It will help us reach many more customers that are self-employed and those in the MSME space that want to purchase commercial properties like shops and offices. This will also improve financial inclusion for mortgage products.”
He said the bank had simplified the processes for the mortgage loan application and could be disbursed in three days to individuals that meet all the mandatory requirements.
