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
 
 
CABS asset base now over $1bln, net surplus up 18pct
19/03/2016 00:00:00
by The Source
 
 
RELATED STORIES

HARARE: Zimbabwe’s largest mortgage lender, Central African Buildings Society (CABS) on Friday said its total asset base increased by 22 percent to $1 billion from $852 million the year before, after deposits grew by 27 percent.

It also recorded an 18 percent growth in net surplus to $28 million, up from $24 million registered in the previous comparable period.

The building society, a unit of Old Mutual Zimbabwe, also saw its net interest income increasing by 36 percent to $59,9 million from 43 million recorded for the same period in 2014.

“Non-interest income increased by 8 percent, due to low increase in the number of transactions passing through the society’s various delivery channels,” CABS said on Thursday.

“The Society’s total loans and advances increased by 27 percent from $444 million as at December 31, 2014 to $562 million as at December 31, 2015.”

In the period under review, the building society’s operating expenses increased by six percent, with comparative growth limited by cost management initiatives.

“Consequently, the society’s cost to income ratio decreased from 63 percent in 2014 to 54 percent in 2015,” it said.

The society‘s prudential liquidity ratio was at 36,8 percent from 36,4 percent, against the minimum regulatory ratio of 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