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  • Updated: January 16, 2024

DBN receives N950m loan repayment from LivingTrust Mortgage Bank

DBN receives N950m loan repayment from LivingTrust Mortgage

A N950m MSMEs grant has been fully repaid to the Development Bank of Nigeria by the LivingTrust Mortgage Bank Plc.

DBN disbursed the N950m MSMEs fund to the bank on March 1, 2021, for a tenor of 36 months, with the facility expected to lapse on March 1, 2024.

LivingTrust Mortgage Bank successfully paid off the grant two months earlier in January 2024.

The bank, in a statement, quoted its Managing Director, Dr AdekunleAdewole, as describing the feat as a testament to LivingTrust’s commitment to excellence and to keeping the trust of its funding partners.

The statement added that LivingTrust was able to achieve this feat through its “credit origination system”, which enabled it to offer credit to Micro, Small and Medium Scale Enterprises, that are first-time borrowers while ensuring a very low non-performing loan ratio.

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