Infinity Trust Mortgage Bank Plc (ITMB): Brief History, Salary Structures And Contributions To National Development

Infinity Trust Mortgage Bank Plc is a financial institution based in Nigeria that focuses on providing mortgage financing and related services to individuals and corporate clients.

Here is a brief history of Trust Mortgage Bank:

Trust Mortgage Bank was incorporated in 1989 as Gateway Building Society Limited, operating as a mortgage institution in Nigeria. It was one of the first primary mortgage banks to be licensed by the Central Bank of Nigeria (CBN).

In 2005, the institution changed its name to Trust Bond Mortgage Bank Plc to reflect its expansion into the issuance of bond-backed securities.

In 2014, the bank rebranded and adopted its current name, Trust Mortgage Bank Plc. This was part of its strategy to position itself as a key player in the mortgage banking industry in Nigeria.

Trust Mortgage Bank listed its shares on the Nigerian Stock Exchange (NSE) in 2017, allowing the public to invest in the bank’s equity.

Services and Operations:

Trust Mortgage Bank primarily provides mortgage financing solutions to individuals and corporate clients. It offers various mortgage products such as home purchase loans, construction loans, equity release loans, and refinancing options.

The bank also provides property development finance, property management, and advisory services.

Over the years, Trust Mortgage Bank has expanded its operations and presence across Nigeria. It has branches and representative offices in major cities and states, enabling it to serve a wider customer base.

As a mortgage bank in Nigeria, Trust Mortgage Bank operates under the regulatory framework of the CBN and is subject to its guidelines and supervision. It also complies with other relevant laws and regulations governing the financial industry in Nigeria.

Its Salary Structures For Staff

In terms of salary structures of ITMB for its employees, workers are well paid, though we don’t have access to specific salary structures or confidential information about companies such as Infinity Trust Mortgage Bank.

Salary structures can vary based on various factors, including job roles, levels of experience and organizational policies.

However, we are reliably informed that an entry level of Infinity Trust Mortgage Bank earn as much as between N100,000 to N150,000 monthly and managers earn as much as N400,000 to N500,000 monthly.

So, job finders in Nigeria who want to know more about the salary structures of the bank are advised to obtain accurate and up-to-date information at the Human Resources department of Infinity Trust Mortgage Bank or visit their official website for any available information on careers, job openings to provide them with the most relevant and current details regarding salary structures and employee benefits at their organization.

ITMB’s Contributions To National Development

Infinity Trust Mortgage Bank has made significant contributions to social and economic development of Nigeria since its inception. Here are some common contributions to national development:

1. Increased Access to Homeownership: Mortgage banks play a crucial role in providing financing solutions for individuals and families to purchase homes. By offering mortgage loans, they contribute to increasing homeownership rates in the country, which leads to improved housing conditions and the overall welfare of citizens.
2. Economic Growth and Job Creation: Mortgage banks support economic growth by facilitating real estate transactions and property development. As more individuals and businesses secure mortgage financing, it drives demand in the housing sector and stimulates economic activity. Additionally, mortgage banks employ professionals across various fields, contributing to job creation and reducing unemployment rates.
3. Infrastructure Development: Through property development financing, mortgage banks contribute to the growth and expansion of infrastructure. They provide funds for the construction and renovation of residential and commercial properties, which improves the overall infrastructure of cities and communities.
4. Financial Inclusion: Mortgage banks play a role in promoting financial inclusion by providing access to credit for individuals who may not have had traditional banking relationships. They extend financial services to underserved populations, expanding access to homeownership and stimulating economic participation.
5. Housing Policy Support: Mortgage banks often collaborate with government agencies and policymakers to shape housing policies and regulations. They provide input and expertise on issues related to mortgage financing, affordable housing, and sustainable urban development, contributing to the formulation of effective housing policies.
6. Support for Small and Medium Enterprises (SMEs): Mortgage banks may offer financing solutions for SMEs in the real estate and construction sectors. By providing access to capital, they support the growth and development of these businesses, which in turn contributes to job creation and economic progress.
7. Direct Employment: Mortgage banks employ professionals across various disciplines such as banking, finance, mortgage underwriting, customer service, and administration. By providing employment opportunities within their organization, mortgage banks contribute to job creation.
8. Indirect Employment: Mortgage banks support economic activities in the real estate and construction sectors. As they provide financing for property development and mortgage loans, it stimulates demand for housing and construction-related services. This, in turn, leads to job creation in industries such as construction, architecture, engineering, real estate agency, and allied services.

Overall, Infinity Trust Mortgage has fared well since its inception, and its growth and success in the area of the various mortgage products such as home purchase loans, construction loans, equity release loans, property development finance, property management and advisory services are testament to the increasing demand for transacting business with the bank in Nigeria.