MyBucks Banking Corporation has recorded a profit after tax of K2.2 billion as at 31st December 2020 up from K1.4 billion same period in December 2019.
This represents a 53% growth in profit after tax, according to a published summary of audited financial results co-signed by the bankâs Board Chairperson Francis Pelekamoyo, Board Director Morgan Tembo, Managing Director Zandile Shaba and the Chief Finance Officer Thomson Kumwenda.
According to the published results, the bank continues to show strong performance year on year.
The revenue grew by 26% driven by a 65% growth in loans and advances and 25% in treasury investments. Year on year the total asset base grew by 58% from K72 billion in 2019 to K114 billion in 2020; this was on account of a 65% growth in loans and advances and also a 25% growth in treasury investments.
MyBucks Banking Corporation has recorded a profit after tax of K2.2 billion as at 31st December 2020 up from K1.4 billion same period in December 2019.
This represents a 53% growth in profit after tax, according to a published summary of audited financial results co-signed by the bankâs Board Chairperson Francis Pelekamoyo, Board Director Morgan Tembo, Managing Director Zandile Shaba and the Chief Finance Officer Thomson Kumwenda.
According to the published results, the bank continues to show strong performance year on year.
The revenue grew by 26% driven by a 65% growth in loans and advances and 25% in treasury investments. Year on year the total asset base grew by 58% from K72 billion in 2019 to K114 billion in 2020; this was on account of a 65% growth in loans and advances and also a 25% growth in treasury investments.
April 6, 2021 Owen Khamula - Nyasa Times 1 Comment
MyBucks Banking Corporation Malawi has made a 53 per cent profit after-tax.
MyBucks Banking Corporation top brass
According to bank officials, the bank has recorded a profit after tax of K2.2 billion as at 31st December 2020 up from K1.4 billion same period in December 2019.
This represents a 53% growth in profit after tax, according to a published summary of audited financial results co-signed by the bank’s board chairperson Francis Pelekamoyo, board director Morgan Tembo, managing director Zandile Shaba and the chief finance officer Thomson Kumwenda.
According to the published results, the bank continues to show strong performance year on year.