Credit Corp profit up
CREDIT Corporation Group delivered first half to June 30 with a 31.5 per cent increase in core operating profit to K70.7 million and a 12.6 per cent increase in net profit to K78.4 million, compared to the same period last year.
The net profit and core operating profit were also significantly above the budget forecast for the half.
Credit Corporation chief executive officer Peter Aitsi said it was pleasing the results were achieved despite a backdrop of macro-economic challenges in respective countries over the first half of the year.
“The finance business experienced double-digit lending growth, while funding levels also grew in step with this,” he said.
“Improved customer partnerships and a continued focus on delivering for our lending customers has improved the profile of the finance business in key markets.
“These initiatives, coupled with attractive market rates, have further strengthened the group’s balance sheet and overall funding capacity.”