TEAM 666
JF-Expert Member
- Dec 7, 2017
- 4,330
- 8,421
Finca Microfinance clears losses , records profit in 2022 Finca Microfinance Bank Limited posted a profit after income tax amounting 1.3bn / - last year , compared with a loss of 3.4bn / recorded during the previous year .
The statements show total assets increased to 79.7bn / - during the fourth quarter of this year from 75.6bn / - during the third quarter of last year due to increase in balance with other banks and financial institutions , loans , advances and overdraft , amid decreased cash and balance with Bank of Tanzania ( BoT ) .
However , shareholders ' fund remained flat at 9bn / - . Balance with other banks and financial institutions went up to 10.93bn / - during the fourth quarter of last year compared with 8.2bn / - during the third quarter while lending increased to 61.6bn / - from 55.8bn / respectively .
According to the statements , customer deposits amounted 43.3bn / - during the fourth quarter of last year compared with 39.8bn / - recorded during the third quarter .
The statements show total assets increased to 79.7bn / - during the fourth quarter of this year from 75.6bn / - during the third quarter of last year due to increase in balance with other banks and financial institutions , loans , advances and overdraft , amid decreased cash and balance with Bank of Tanzania ( BoT ) .
However , shareholders ' fund remained flat at 9bn / - . Balance with other banks and financial institutions went up to 10.93bn / - during the fourth quarter of last year compared with 8.2bn / - during the third quarter while lending increased to 61.6bn / - from 55.8bn / respectively .
According to the statements , customer deposits amounted 43.3bn / - during the fourth quarter of last year compared with 39.8bn / - recorded during the third quarter .
