Bank Windhoek posts impressive results

16 Aug 2013 07:00

Bank Windhoek Holdings Limited has exceeded the half-a-billion mark in total comprehensive income, its managing director, Christo de Vries announced today.

De Vries said this after the bank released its financial result for the year ended 30 June 2013.

The Group's total amount of the year amounted to N$516 million translating into a 24% increase on the prior year; it further achieved an asset growth of 10.7% to N$ 20.9 billion.

The net interest income increased by 16.8% to N$ 914m from N$ 783m recorded in 2012 while the non- interest income which comprises of fee and commission income , trading income and other operating income increased by 12.9% to N$ 523m from N$ 463m in 2012. The operating expenses growth also recorded an 8%   from N$ 707m in 2012 to N$763m.

Commenting on the results, de Vries attributed the solid performance to controlled asset growth, prudent risk and capital management with a continued focus on efficiencies.

He also added that the group will continue focusing on a sustainable delivery to its shareholders and improving on returns despite challenges in the operating environment and changing landscape of the banking sector.