"We want to grow our loan book significantly and introduce more debt products leveraging on our capacity from
To reduce lending risk, at a time non performing loans in the market average 16%, Guvamatanga said
"On the individual loans, we are also lending to employees of these companies because we understand their cash flows better because they are audited," he said.
"As I have said to my colleagues, a pay slip is an intention to pay just like an invoice so if you want to give a loan based on a pay slip then you need to understand the issuer of that pay slip or invoice in the case of some who have orders with these companies."
Guvamatanga said before corporate loans are approved, a thorough vetting process is conducted in respect of whether or not the business model is viable and management's capacity to deliver.
"As a member of the
Loans grew by 42% over the five years to
In the year under review, the group's loan book grew by 26% as more loans were advanced to individuals and businesses across most sectors of the economy. In terms of financial performance, the bank registered a 43% growth in after tax profit to
Total income grew 5,3% to
Earnings per share stood at US0,14 cents for the year from US0,10 cents per share in 2012.
Matsekete said non-funded income went down 9% to
Deposits also grew slightly from
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