Cititrust Holdings divests from Cititrust Financial Services

Cititrust Holdings Plc is divesting its 100 per cent holdings in Cititrust Financial Services Plc Nigeria.

In a statement, Cititrust Holdings Plc states that Cititrust Financial Services Plc Nigeria is owned and represented by Clandun Business Advisory, which will be responsible for the management of Cititrust Financial Services and its six  subsidiaries: Cititrust Credit Limited, Cititrust Portfolio Limited, Core Capital Limited, First Guaranty Healthcare Limited, First Option Microfinance Bank Limited, and Great Hope Insurance Brokers Limited.

Consequently, Cititrust Financial Services and its subsidiaries cease to be affiliate of Cititrust Holdings Plc, as the new owners are not related to the Holding Company.

Cititrust Holdings Plc says it remains committed to delivering excellent service and performance in line with its core business values and objectives. Recently, one of its subsidiaries, Pan African Finance Limited Rwanda, was granted a licence by the Rwanda Capital Market Authority to upscale the business model to operate fully as a Merchant Bank.

To further underscore the dynamism of Cititrust Business Model, its Central Bank of Nigeria’s licensed banking subsidiary, LivingTrust Mortgage Bank Plc, declared a third quarter 2021 Profit After Tax of N533 million.

Cititrust Holdings Plc says it is resolved to deliver outstanding performance to its stakeholders across the remaining 18 direct subsidiaries and two indirect subsidiaries across 12 African countries.