Agusto & Co. affirms Infinity Trust Mortgage Bank Plc’s (“Infinity Trust” or “ITMB”) “Bbb+” rating, with a stable outlook
The rating expires on 30 June 2021.
Agusto & Co. affirms Infinity Trust Mortgage Bank Plc’s (“Infinity Trust” or “ITMB”) “Bbb+” rating. Infinity Trust’s rating is supported by good capitalisation, a good liquidity and funding profile, adequate risk management processes and a stable and experienced management team.
The rating is, however, constrained by Infinity Trust’s low profitability and concentration in the loan book by sector and geography. The impact of the COVID-19 pandemic on the Nigerian economy which has led to a lull in the mortgage industry is also a rating negative.
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