Bank Windhoek anticipates sterling results
Bank Windhoek is scheduled to release its results for the financial year ended 30 June 2014 later in August.
The bank said in a statement released last week through the Stock Exchange News Service, expectations are that the bank has shown impeccable form, with profit after tax expected to jump by more than 20% and headline earnings per share and basic earnings per share spiking upwards of 8% and 12% respectively. Bank Windhoek Holdings anticipates the profit after tax for the year ended 30 June 2014 to increase between 24% and 29% on the previous year.
The bank anticipates a year on year increase in headline earnings per share (HEPS) and basic earnings per share (EPS) to range between 8% and 13% and between 12% and 17% respectively.
Said Bank Windhoek, The differences between the increases in profit after tax, HEPS and EPS are mainly due to the dilution effect of the 41,280,000 ordinary shares issued as part of the listing of Bank Windhoek Holdings on 20 June 2013 and the 7,400,000 ordinary shares issued by Bank Windhoek Holdings relating to the acquisition of Capricorn Unit Trust Management Company Limited on 01 July 2013.
The bank said the trading statement has not been reviewed or reported on by Bank Windhoek Holding´s external auditor.
The final results for the year ended 30 June 2014 are expected to be published on or about 14 August 2014.
In December 2013, Bank Windhoek reported net profit after tax of N$267.9 million for the six months ended 31 December 2013, achieving a year-on-year growth of 20.1%. Non-interest income contributed 34.9% to total income and the non-interest income year-on-year growth amounted to 17.5%. For the 2013 financial year, the bank registered annual growth of 25.9%, operating profit equalling N$648 million with return on equity of 23.7% and earnings per share up to 108 cents. Group total income for the year amounted to N$516 million and its balance sheet grew 10.7% amounting to approximately N$20.9 billion.