NBC REGISTERS SH 10BN LOSS IN THIRD QUARTER
Posted on
Nov 17, 2012
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Dar es Salaam. The National Bank of Commerce (NBC) continued to register
losses in the third quarter as its non-performing loans surged.NBC’s
quarterly balance sheet indicates that the firm recorded Sh10.6 billion
in its loss account as at September 30, 2012, a relatively low amount
compared to Sh14.6 billion recorded in the same account in the second
quarter.
Non-Performing Loans and Advances increased from Sh82.4 billion in June to Sh104.9 at the end of the third quarter.
The Non-Performing Loans share to the total gross loans increased from 11.1 per cent in June to 14.7 per cent this September.
The bank also did not collect enough deposits as the deposit growth rate was still in the negative edge for both quarters. It was -1.77 per cent compared to -3.16 per cent recorded in June.
Customer deposits reduced from Sh1.26 trillion in June this year to Sh1.23 trillion at the end of the third quarter.
On the other hand, NBC improved its interest income from Sh27.3 billion to Sh31.6 billion while fees and commissions on the non-interest income increased from Sh8.3 billion to Sh8.4 billion.Investment in government securities (treasury bills and bonds) increased from Sh213.1 billion in June to Sh249.1 billion last quarter.
Non-Performing Loans and Advances increased from Sh82.4 billion in June to Sh104.9 at the end of the third quarter.
The Non-Performing Loans share to the total gross loans increased from 11.1 per cent in June to 14.7 per cent this September.
The bank also did not collect enough deposits as the deposit growth rate was still in the negative edge for both quarters. It was -1.77 per cent compared to -3.16 per cent recorded in June.
Customer deposits reduced from Sh1.26 trillion in June this year to Sh1.23 trillion at the end of the third quarter.
On the other hand, NBC improved its interest income from Sh27.3 billion to Sh31.6 billion while fees and commissions on the non-interest income increased from Sh8.3 billion to Sh8.4 billion.Investment in government securities (treasury bills and bonds) increased from Sh213.1 billion in June to Sh249.1 billion last quarter.
Is the bank coming to an end nikaamishe account yangu b4 mambo hayajawa kama deci?.
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