Nambawan Savings and Loan Society has unveiled its financial outcomes for the fiscal year 2023, underscoring substantial growth and operational success.
Spearheaded by CEO John Solok, the institution achieved a commendable net profit of K2.88 million, representing an impressive 51% surge from the preceding year, culminating in a final net asset position of K1648 million.
The annual report highlights significant milestones:
- A remarkable 19% upsurge in members' savings, reaching K116 million.
- Noteworthy loan book growth, with a high 23% surge, totalling K59.7 million.
- Record-breaking membership growth of 24%, with a total of 41,946 members, supported by a network of 190 employer partners.
- A substantial increase in female membership, now standing at 43%.
Expressing gratitude to stakeholders, CEO John Solok credited their unwavering support as instrumental in Nambawan Savings and Loan Society's accomplishments.
He reiterated the institution's dedication to continuous innovation and improvement to maintain its pioneering status in the financial services sector.
Eyeing the 2024 financial year, Nambawan Savings and Loan Society aims to diversify its product offerings, strengthen digital banking capabilities, and bolster partnerships with local communities and businesses.