DBSA announced its net income is up by 18%, an equivalent of R7, 7 billion.
In an update, the bank said it is excited to announce its resilience and growth, against a challenging time.
Soneni Phiri, the Media Liaison for the bank, said despite challenging economic and operating environment locally and globally, a strong leadership and management team has steered the Bank through challenges, whilst following the principles of good corporate governance.
Key highlights shared include an increase in total assets by 9%, which adds up to R23 billion.
Some highlights reported, include cash collections of about R23 billion, up by a staggering 28%, from the previous year.
About R18 billion was collected in 2023.
Sustainable earnings also climbed up by 7% to R4.5 billion.
Cash flow from operations also increased to R5.4 billion.
Debt-to-equity ratio is within the regulatory limit of 250%, at 89% compared to last year’s 87%.