The group has exceeded the forecast profit after tax by 8%. The bank said this was achieved through good revenue growth, prudent expence management and effective credit management.
"It is gratifying to report on another positive financial performance of the
In line with the commitments made during the listing of
Net interest income increased by 15,6% to just over N$1 billion compared to N$914 million in 3013. This is driven by the growth in average interest-earning assets of 16, 2%.
"The strong growth in non-interest income is a direct result of the constant focus on customer service resulting in increased business volumes with the leading contributors being growth in number of accounts and substantial increase in transactions through electronic banking channels,"
Loans and advances to customers grew by 14,7% to N$20,2 billion. The group concluded the financial year with a total risk-based capital adequacy ratio of 15,8%, well above the
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