First National Bank (FNB) has recorded 21. 7 million kwacha profits after tax for the period of six months ending 31st December 2014.
This is the third consecutive year that the FNB bank is recording profitability.
The FNB Chief Financial officer Ackim Chalwe noted that the bank’s performance remained strong despite a high interest environment and tight monetary policy.
Mr. Chalwe explained that the FNB managed to grow advances by 24 % supported by a 21% growth in deposits over the period from 1.9 billion kwacha to June 2014 to 2.3 billion in December 2014.
Further, the FNB Chief Financial Officer disclosed that the total assets of the bank grow by 26 % and investment by 45% respectively.
The annualised income statement saw net interest income and net interest revenue grew to 35% while profits before tax and profit after tax grew to 33% and 32% respectively.
Mr. Chalwe stated that the bank’s growth and profit accrued is anchored around the use of ICT such as electronic banking system and innovation.
And FNB Zambia Chief Executive Officer John Maree said he is confident the bank will continue to grow its footprints in the country.
Mr Maree announced in a press statement that three more branches will be opened before the end of June, 2015 and the bank will increase its ATM network expansion.
He pointed out that the bank will continue to push boundaries and growing the customer base through e-solutions.
GOOD NEWS LUPEMPU PLEASE KEEP IT UP! YOU HAVE MADE US PROUD
Okay……now work on the network connecting your ATM’s,the network is usually down here in Kitwe. And also,ensure that your ATM’s are loaded with K100 notes to reduce on the costs of making a lot of withdrawals.
Good news. Now please open up more branches and ATM’s across the country
When are we going to read the selfsame good news with wholly Zambian owned banks? Do they ever record profits
Zambia is a little colony of South Africa. They come, milk us and kill us. Boycott these outfits, Game store, Shoprite, Stanbic Bank, Africa Life, FNB, Hollard Life, Spar and their trucking companies engaged in cross border smuggling.
This is always the result if a country is lazy and depends on the hard work of another country. Fifty years after “independence” and Zambia depends on other countries to have tarred roads, to build a bus stop, to erect a mart, etc. What a shameless people!
Mr Chalwe should also ensure that his bank improves on customer relations. There is too much charging of unnecessary penalty fees on customers. Queries that are supposed to be sorted out within hours take months to be resolved. That is the more reason why FNB branches are usually crowded because the staff are too slow and uncaring.