Rising inflation developers headache – ITMBN COO
The Managing Director/Chief Operating Officer of Infinity Trust Mortgage Bank (ITMB), Mr Olabanjo Obaleye has identified lack of liquidity, rising inflation and a weak currency as major challenges currently facing property developers in the country. He stated this at the 2016 ITMBPLC Annual General Meeting (AGM) held Thursday in Abuja. He noted further that the […]
The Managing Director/Chief Operating Officer of Infinity Trust Mortgage Bank (ITMB), Mr Olabanjo Obaleye has identified lack of liquidity, rising inflation and a weak currency as major challenges currently facing property developers in the country.
He stated this at the 2016 ITMBPLC Annual General Meeting (AGM) held Thursday in Abuja.
He noted further that the commercial banks have refused to lend to real estate developers due to cash crunch and rising Non Performing Loans (NPLs).