LivingTrust Mortgage Bank reported a significant 76% decline in pre-tax profit for the first half of 2026, dropping to N133.33 million from N562.53 million in the same period last year. The bank faced pressure from rising funding costs and increased operating expenses, resulting in a net interest loss of N346.24 million. Despite the bottom-line contraction, total assets grew by 15% to N36.93 billion, and customer deposits rose to N28.20 billion, highlighting improved liquidity and balance sheet expansion.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.