Trinidad and Tobago Mortgage Finance profits soar to $99.41m

The Trinidad and Tobago Mortgage Finance Company Ltd ( TTMF ) posted a $99.41 million profit for the nine months ending September 30, according to its third-quarter results.

In a release, TTMF said its assets grew to $5.3 billion, which includes $1.4 billion in retained earnings.

TTMF chairman Patrick Ferreira, in his review, said the company continued to deliver strong results, and with the Home Mortgage Bank merger almost completed, a strong and innovative entity will go forward in 2024.

The Home Mortgage Bank and TTMF are both subsidiaries of the National Insurance Board of TT ( NIBTT ), with the Government holding a 49 per cent interest in the TTMF.

In November, Caribbean Information and Credit Rating Services Ltd (CariCRIS) reaffirmed the assigned credit rating of CariA+ on its regional rating scale and ttA+ on the national scale to the company.