DBSA reports record profit for the year.
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State-owned development finance institution Development Bank of Southern Africa (DBSA) has reported a record R3.8-billion net profit for the financial year ended March 31, showing a profitability increase of more than 168% from R1.4-billion in the previous financial year.
The profit increase was influenced by an 18% growth in net interest income from DBSA’s core lending activities over the prior year. Other factors that influenced the positive results include stabilisation of expected credit losses which reduced impairment charges, increases in cash collections and repayments from development loans, and effective cost containment strategies.
The profit increase was influenced by an 18% growth in net interest income from DBSA’s core lending activities over the prior year. Other factors that influenced the positive results include stabilisation of expected credit losses which reduced impairment charges, increases in cash collections and repayments from development loans, and effective cost containment strategies.
