CABS remained the country’s largest building society realising a surplus of $8.2 billion for the year ending June, almost double its nearest rival. It had a surplus of $3.1 billion the previous year.
Interest income more than doubled from $5.6 billion to $14.6 billion with net interest income increasing from $3.5 billion to $8.9 billion.
Non-interest income increased from $1.8 billion to nearly $5 billion.
The society advanced $9.7 billion in mortgage loans to 1 083 applicants, 234 of whom were from high-density areas while 849 were for low density and commercial properties.
The society’s assets also doubled from $31 billion to $63.3 billion with more than half of the assets being dealing and investment securities.
The society launched its platinum club in May and says it had become very popular.
It also says the number of clients using its internet based banking had grown by 53.5 percent.
| Comparisons | |||
|---|---|---|---|
| CABS | Beverley | Intermarket | |
| $millions | $millions | $millions | |
| Net interest income | 8 913 | 7081 | 3 793 |
| Non interest income | 4 976 | 1 128 | 788 |
| Surplus | 8 177 | 4 067 | 1 872 |
| Assets | 63 298 | 57 677 | 46573 |
| Mortgage advances (cash) | 9 700 | 9 844 | 4 100 |
| Mortgage advances (people) | 1083 | 1 684 | 1 495 |
(15 VIEWS)
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