Beverley fast catching up with CABS

Beverley Building Society, one of the societies that was worst hit by the local currency cash crisis, is fast catching up with the country’s largest building society, CABS.

Its assets almost trebled from $19.8 billion to $57.7 billion during the year ended June.

It paid out $9.8 billion to 684 applicants in mortgage advances with $5.3 billion going to those either buying or building their own houses and $2.6 billion to the commercial and industrial sector.

Interest income increased from $3.1 billion to $12.2 billion with net interest income at $7.1 billion, up from $2.3 billion.

Other income brought in $1.1 billion, compared with $419.3 million the previous year.

The society had a surplus of $4.1 billion. It had a surplus of $1.3 billion the previous year.

(19 VIEWS)