Annual Report for the Year Ending December 31, 2015

30 Aug 2017

Annual Report and Financial Statements for the Year Ending December 31, 2014. Download the Annual Report Published Accounts 2014 here in PDF format. Below are the highlights of the financial statements:

  • Profit after tax stood at UGX 1.1 billion in 2014 compared to UGX 279 million in 2013
  • Loan portfolio grew by UGX 6.02 billion from UGX 17.49 billion in 2013 to UGX 23.5 billion in 2014 (34.4%)
  • The savings portfolio grew by UGX 3.24 billion (43%) to UGX 10.789 billion in 2014 from UGX 7.54 billion in
    2013 because of aggressive mobilization efforts by staff, quality customer service and turn‐around time.
  • Interest income increased to over UGX 8.59 billion in 2014 up from UGX 7.15 billion as a result of the
    growth in the loan portfolio.
  • The institution’s short term investments with other financial institutions increased to over UGX 3.20 billion
    up from UGX 2.67 billion.
  • Designated fund income increased as a result of a United Nations Capital Development Fund (UNCDF)
    Grant towards developing and piloting of the new GroupSave product and AirSave mobile banking
  • The overall rating of the institution by Bank of Uganda for end of December 2014 was “Satisfactory” an
    improvement from a “Fair” rating as at end of December 2013.

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