The bank's Chief Executive Officer, Ms
"We reported Profit after Tax of Shs127.4 billion, 4.9 per cent down from Shs134.0 billion in the previous year, due to the impact of Covid-19 Pandemic on clients' business," she said.
"This growth was enabled by our strong client ecosystem engagement and simplifying client onboarding. Loans and advances increased by Shs661 billion, which represents 24 per cent year on year growth registered across our varied client segments on working capital and term financing."
Non Interest Revenue (NIR) dropped due to business disruptions occasioned by the pandemic while Net Interest Income (NII) registered growth off the back of larger interest earning investments.
During the same period under review, its costs increased by
While speaking on Credit Relief programmes, Ms Juuuko said: "We offered credit relief programmes to companies and personal customers to minimise the impact the pandemic would have on their businesses. We also waived all charges on our digital banking platforms so that customers transacted free of charge."
Despite the difficult environment due the pandemic,
We lowered our PLR twice during the period to 16 per cent which is one of the lowest PLRs of all active retail financial institutions in
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