HFC BANK (GHANA) LIMITED FACTS BEHIND THE FIGURES (YEAR END 2014)
Operating income up by 56% to GH¢199 million. Key Drivers YoY: Strong growth in Trading Income Resilient interest income, & fee and commission income
Key Drivers: 40% growth in Earning Assets: GH¢1,025million in 2014 (2013: GH¢734 million) Higher Net Interest Margin: 12.11% in 2014 verses 10.98% in 2013 Key Drivers: 40% growth in Earning Assets: GH¢1,025million in 2014 (2013: GH¢734 million) Higher Net Interest Margin: 12.11% in 2014 verses 10.98% in 2013
Operating expenses up 69% to GH¢114 million Key Drivers: Interest Expense on Source of Funds. Increase in staff expenses. The average number of staff during the year was 939 (2013: 723), comprising: HFC Bank – 687 HFC Inv. – 22 HFC Realty - 12 HFC Boafo – 218 Impairment Charge for Loans. Cost income ratio (CIR) was 57.11% compared to 52.80% in Operating expenses up 69% to GH¢114 million Key Drivers: Interest Expense on Source of Funds. Increase in staff expenses. The average number of staff during the year was 939 (2013: 723), comprising: HFC Bank – 687 HFC Inv. – 22 HFC Realty - 12 HFC Boafo – 218 Impairment Charge for Loans. Cost income ratio (CIR) was 57.11% compared to 52.80% in 2013.
PBT up 41% to GH¢73.59 million. PAT up 46% to GH¢57.42 million. YoY performance boosted by higher revenues and efficiency gains. ROE increased significantly to 29.40% verses 25.87% in PBT up 41% to GH¢73.59 million. PAT up 46% to GH¢57.42 million. YoY performance boosted by higher revenues and efficiency gains. ROE increased significantly to 29.40% verses 25.87% in 2013.
∆Y/Y Cash and Balances with Bank of Ghana 187,723, ,337, % Government Securities 298,528, ,782, % Loans & Advances to Customers 658,010, ,318, %
Gross customer loans were GH¢ million, up GH¢140.3 million or 26% Growth reflected ongoing strategic initiative, including improving effectiveness of credit origination, appraisal, approvals and turnaround times for credit extension
HFC BANK (GHANA) LTD THANK YOU FOR YOUR ATTENTION