send to a friend by email

Alrafah Microfinance Banks (AMB) lists its audited financial data

2007-09-23

Alrafah Microfinance Banks (AMB) lists its audited financial data

The lists audited financial welfare of the Bank for the financing of small enterprises, talk of incorporation, that the bank continued in the second quarter of this year, his outstanding performance, which began early this year, enabling Firefighters Most of the losses resulting from the incorporation expenses, and net profit before tax by $ 418 thousand in the first half of this year, and at a rate of 176% over the sphere discretion to the same period this year.
The list of income that 80% of bank income is operating income, compared to the corresponding period last year, total revenues rose by over World 186%, while operating revenues rose Bank by 167%.
Total assets rose Bank, which was founded in August of the year 2005 with capital of $ 30 million, which started work in May 2006 to about $ 56 million at the end of the first half of the current year, an increase of 31% over the previous year.
It also increased the net dues by 8 t 3% to about 8 t $ 27 million at the end of the first half of the current year.
The bank was able to lift its total deposits to about 8 t $ 26 million at the end of the first half of this year, from about 7 t 14 million at the end of last year, an increase of 82%.
A client deposits about 3 t $ 20 million, while the value of bank deposits about four million six hundred thousand dollars.
They also enable the Bank to raise the volume of the facilities offered to customers by 207% to about 9 t $ 15 million at the end of the first half of the current year, compared with the end of the previous year.
The data showed that the bank credit facilities amounted to 9 t $ 15 million problem around 60% of total deposits.
The bank plans during the second half of the year to target doubling of small and micro through programs and supportive corporate groups and saving.