Bramer Bank sees profits up 13.4% to Rs 107.2 mn for the year ended December 31
Bramer Bank registered a 13.4% increase in profitability to reach a profit before tax of Rs 107.2 million for the year ended December 31, 2014 and also grew its deposits base by 22.8% to Rs 14.6 billion as at 31 December 2014. (Image: Luxury Mauritius Magazine)
Bramer Bank registered a 13.4% increase in profitability to reach a profit before tax of Rs 107.2 million for the year ended December 31, 2014, compared to the year-ago period when profit before tax stood at Rs 94.5 million.
Coming to the balance sheet, the deposits and net loans and advances portfolio of the bank stood at Rs 14.6 billion and Rs 10.4 billion respectively as at 31 December 2014, representing a rise of 22.8% and 19.8% respectively as compared to 31 December 2013.
Besides, total assets were up by 22.4% to Rs 18.6 billion at 31 December 2014 as compared to Rs 15.2 billion at 31 December 2013.
Under total assets, a 21% rise in loans and advances to customers was registered to Rs 10.4 billion for the year ended December 31, 2014, compared to Rs 8.6 billion in the corresponding period last year.
However, net fee and commission (expense) / income, showed a major decrease from Rs 53 million to Rs -9 million.
Finally, total equity and liabilities stood at Rs 18.6 billion, which is an increase of 22.3% compared to Rs 15.2 billion last year. Of this, the main category consisted of deposits from customers at Rs 14.6 billion, up 22.8% from 11.9 billion last year.
About Bramer Bank:
Over the years, Bramer Bank has been helping families, individuals, entrepreneurs and corporates alike to realize their ambitions.
The bank offers a wide choice of financing, deposits and transactional facilities to meet personal and business requirements of its clientele and it has strong capabilities to build solutions around customer needs.
Bramer bank has a wide network of 20 branches across the island, in line with its mission to deliver proximity services to its customers.
The bank’s activities straddle retail, corporate and private banking, automobile and equipment leasing and micro finance.