Rating Release
Agusto & Co. hereby affirms the ‘Bbb+’ rating assigned to Infinity Mortgage Bank Plc, with a stable outlook.
The rating expires on 30 June 2022.
Agusto & Co. hereby affirms the ‘Bbb+’ rating assigned to Infinity Mortgage Bank Plc (“ITMB” or “the Bank”). The rating reflects the Bank’s strong capitalisation, good liquidity profile, and experienced management team. The rating is, however, constrained by weak profitability, significant concentrations in ownership, deposits and the geographical distribution of the loan portfolio as well as the volatile economic terrain which has adversely affected businesses and households
The Bank is one of the largest primary mortgage banks in Nigeria. ITMB is involved in the origination and servicing of residential and commercial mortgages and the provision of construction finance to real estate developers.