Stima Sacco profit up Sh849m, declares 14 percent dividend
Stima Sacco has recorded a 52 percent in 2018 net profit to Sh849 million from Sh560million posted in 2017.
The growth is attributed to an increase in revenue, which rose, by 15 percent to Sh4.6 billion.
Member deposits increased by 14 percent to Sh24.9 billion from Sh21.9 billion in 2017 while their loan book recorded an increase of 8.4 percent to Sh24.9 billion from Sh23 billion the previous period.
During the period under review, the Sacco grew its membership by ten percent from 103, 748 in 2017 to 114, 071 in 2018. As a result, its members’ deposits went up by 14 percent to Sh24.9 billion.
The Society’s total assets increased by 14 percent to Sh32.3 billion from Sh28.5 billion while its liabilities went up by 12.9 percent to Sh27.9 billion from Sh24.7 billion last year. Its core capital went up by 23 percent to Sh4.2 billion improving its financial strength.
The Sacco has recommended a dividend of 14 percent and a 10.5 percent interest rebate on members’ deposits for the year.
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