Infinity Trust Mortgage bank to raise additional N50bn capital

Infinity Trust Mortgage Bank (ITMB) has revealed plans to raise additional N50 billion via private placement on the backdrop of expansion to becoming a digital commercial bank.

Speaking to the capital market community at the “Facts Behind the Presentations” in Lagos on Thursday, the Chairman of ITMB, Mrs Okwa Ene Iyana, stated that capital raising exercise was the management’s strategic move to capitalise on new opportunities, expand its reach as a catalyst for financial inclusiveness and to further entrench its position as a leader in the sector.

Mrs Iyana explained that the move was a demonstration of a resounding vote of confidence by shareholders on the bank’s potential, people and prospects.

She said, “As we navigate through the complexities of its dynamic industry, we remain steadfast in our mission to provide innovative, customer-centred solutions, fostering sustainable growth and creating long term value for all our stakeholders.”