dfcu Limited has released its 2017 consolidated interim financial results- showing a 69.4% growth in balance sheet from Shs1.8 trillion in December 2016 to Shs3.05 trillion as at June 30, 2017.
The performance is largely attributed to the January 2017 acquisition of Crane Bank assets and assumption of liabilities by dfcu Bank that presented numerous opportunities in line with dfcu’s growth aspirations.
Highlights of our financial position as at June 30, 2017 include:
47.3% growth in total income from UGX 173 billion to Shs255 billion.
It is important to note that this includes a bargain purchase resulting from the fair valuation of the net assets acquired and the deferred obligation.
A significant 62% increase in customer deposits to UGX 1.838 trillion
A Profit Before Tax position of over Shs151 billion in comparison to Shs30 billion over the same period in 2016.
A 55.5% growth in the loan book to Shs1.31 trillion
This positive performance comes against the backdrop of the dfcu Limited Rights Issue whose terms and conditions will be published upon receipt of regulatory approvals.