Financial services group,
Resultantly, earnings per share rose 239 percent to
Total income came in at
Of the total income, non-funded income contributed 92 percent, which was also an increase of 214 percent to
Net earnings from trading and lending activities slowed 39 percent to
Figures from the group show that gross interest income eased 21 percent to
Interest expense reduced with paying rates having remained flat while the funding mix shifted to less expensive classes.
Net interest income eased 6 percent to
During the period under review, banking fees and commissions went down 23 percent in real terms against the backdrop of a freeze in rate escalations that came into effect in March this year.
Customer accounts increased 11 percent, a trend sustained in the past two years.
According to the group, investment returns improved by 5 895 percent to
Foreign exchange gains contributed
Operating expenses retreated in real terms by 6 percent with significant deferral of planned expenditure that occurred due to the national lockdown.
During the six months period, total assets improved 7 percent to
Loans and advances remained flat in real terms at
Non-performing loans ratio improved to 0,19 percent from 0,45 percent as at
Due to the worsening inflation out turn, the group says one of their key focus areas going forward is capital preservation, land back acquisition as well as forge strategic alliances and partnerships, the make of which remains enhancement of correspondent banking relationships for mobilisation of offshore credit lines.
The group will also look at diversification of revenue streams leveraging on technology among others.
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