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Unaitas Sacco net profit up 66pc to Sh428 million

NEWS
By Fredrick Obura | March 27th 2016

Unaitas Sacco has recorded a 65.5 per cent growth in profit after tax for the financial year ended December 31, 2015. The Sacco’s net profit increased from Sh258 million in December 2014 to Sh428 million in December 2015.

Unaitas Chairman Joseph Ngaai said they brushed off a tough business environment marked by high interest rates in second half of the year to post good results. Unaitas Sacco’s asset base grew by 35 percent to Sh9.3 billion from Sh6.9 billion the previous year.

 Interest income grew to Sh1.09 billion in December 2015 compared to Sh840 million the previous year while total loans and advances increased to Sh7.42 billion compared to Sh4.85 billion in the previous year.

Unaitas membership grew to 230,355 as at December 2015 compared to 164,506 the previous year.  Dividends to members grew from Sh114 million in 2014 to Sh164 million in 2015.

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