20 January 2018
   
Tsvangirai golden handshake confirmed
DisGrace sneaks out three luxury cars
ED cuts Bob Singapore crew from 38 to 22
Call for Diaspora Minister and MPs
ED so over confident it worries him
Priscilla demands coup ‘killings’ details
CBD maize roasting must end now: Min
Tsvangirai faces disgraceful exit: Judge
MORE NEWS
ZTA targets domestic tourism
SOE DEBATE: Privatise most parastatals
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Mapeza targets CAF CL group stages
Tendai Ndoro special - says Ajax coach
MORE SPORTS
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
NMB sees 128pct jump in after-tax profit, strategy change leads to rude health
26/08/2015 00:00:00
by The Source
 
 
RELATED STORIES

NMB Bank on Wednesday reported an impressive set of results, showing a 128 percent leap in after-tax profit to $3,17 million in the six months to June 30, driven by a broader market segment, cost containment and tighter credit control.

The bank has evolved beyond its traditional high end market to embrace a broader market.

Total income was $28,8 million, up from $23,3 million in the first half of 2014, with 61 percent of that being interest income (65 percent in HY2014).

Fee and commission income contributed more to total income in the first half of 2015, compared to the same period of 2014.

NMB’s total assets grew 20 percent from the end of 2014 to $344 million at the close of the first half.

However, the growth in assets was not matched by the expansion of credit as the bank imposed strict credit management amid worsening economic conditions.

NMB’s bad loan ratio improved to 15.43 percent in the first half of 2015, from 18.97 percent at the end of 2014.

The bank’s liquidity position improved over the six months, with the liquidity ratio standing at 34.56 percent at the close, compared to 32.38 percent in December 2014.

The mandatory ratio, stipulated by the central bank, is 30 percent.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker