This was revealed by a financial statement delivered by the Bank's Finance director at its annual general meeting held Thursday afternoon at a local hotel in Kololi.
The chief executive officer of SCB,
He acknowledged that 2013 was a challenging year for business, and disclosed that the revenue for the customer banking grew on yearly basis by a modest 5% to D234.1million. This growth, he explained, was enabled by an impressive 18% growth in net interest income, whilst non-funded income registered a decline in performance.
Mukwereza further disclosed that the customer deposits grew by a strong 12%, which is equivalent to the sum of D2,300, 8 million. This growth, he further pointed out, was achieved as a result of a new sales strategy that was implemented in 2013.
"We continue to maintain a robust and cost effective footprint comprising 5 branches and 10 ATMs in the face of aggressive footprint expansion by the competition. The return on investment on these customer delivery channels is impressive and amongst the best in class in the banking industry. Our ATMs continue to be an important component in our customer delivery channels from a customer accessibility and revenue perspective," he noted.
SCB boss assured that the bank will continue to invest heavily in its technology platform by automating and simplifying its processes to deliver world-class services to its customers. These investments, he explained, would not only make their system more robust, but also help to improve risk management framework.
The chairman of the board of directors of SCB,
Senghore equally acknowledged that year 2013 was a challenging one for the bank, but was quick to attribute the situation to the global economy recovery and the impact of the poor harvest in 2011/2012 on the local economy. The head of Wholesale Banking at SCB,
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