Infinity Trust Mortgage Bank Partners DBN to Access N2.7bn Credit Line

Infinity Trust Mortgage Bank Plc (ITMB) has been approved to access up to N2.7 billion facility by the Development Bank of Nigeria (DBN).

In a statement released by the lender, it said it was recently onboarded as a participating Financial Institution to access the fund for on lending to its customers.

This, it said demonstrates ITMB’s strong financial capacity and rating.

Reacting to the development, Dr. Olabanjo Obaleye, the Managing Director/CEO, ITMB, said the partnership with DBN would help the bank deepen its offerings to those in the MSMEs sector, “particularly as they constitute over 90 percent of enterprises in the country. 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 shop and offices.This will also improve financial inclusion for mortgage products.”

Obaleye, therefore, encouraged interested MSMEs and small corporates looking to access a mortgage loan to build and purchase residential or commercial properties to visit the lender’s nearest office for thorough guidance and necessary approval.

He added that “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.“