Le­sotho Post­bank Lim­ited (Regis­tra­tion num­ber I2004/163)

An­nual Fi­nan­cial State­ments for the year ended 31 De­cem­ber 2017

Lesotho Times - - Advertorial -

Fi­nan­cial Po­si­tion Growth of bal­ance sheet

De­posits amounted to M1 bil­lion as at De­cem­ber 31st 2017, a 71% growth from prior year which stood at M588.8 mil­lion. This was at­trib­ut­able to ac­qui­si­tion of new clients cou­pled with our strong cus­tomer re­ten­tion strat­egy. This per­for­mance re­sulted in the bal­ance sheet grow­ing by 62% to M1.3 bil­lion. The loan book stood at M643 mil­lion, an in­crease of 176% from 2016, this re­sulted into a pos­i­tive growth in in­come as recorded in the in­come state­ment. The higher loan book growth rate was reg­is­tered in both Re­tail and Busi­ness seg­ments.

Cap­i­tal Ex­pen­di­ture

Cap­i­tal ex­pen­di­ture of over M62 mil­lion in­cluded re­fur­bish­ment costs on Mafike House, Ma­put­soe Branch, pro­cure­ment and in­stal­la­tion of new ATMS, the up­grade of the core bank­ing sys­tem and the com­mence­ment of Dig­i­tal e-chan­nels Project. The Go-live date of the up­graded core bank­ing sys­tem was in May 2017. Pur­suant to am­pli­fy­ing cus­tomer ser­vices, the Bank in­tends to open a branch at Bon­homme House (Maseru) in the course of 2018, launch In­ter­net, Mo­bile, Agency and Mer­chant Bank­ing as well as e-wal­let.

Liq­uid­ity

The Bank main­tains a healthy liq­uid­ity level de­spite heavy ex­pen­di­ture on cap­i­tal projects un­der­taken dur­ing the year in pur­suit of growth and broader out­reach as well as growth in the loan book. The funds were in­vested dili­gently for the in­creased prof­itabil­ity and reg­u­la­tory com­pli­ance.

Fi­nan­cial Per­for­mance In­crease in In­ter­est In­come

In­ter­est in­come im­proved sig­nif­i­cantly to M117 mil­lion (2016: M53 mil­lion) as a re­sult of growth in the loan book and the de­ploy­ment of funds into high yield fi­nan­cial in­stru­ments. The in­ter­est rate charges on loans re­mained sta­ble through­out the year whereas in­ter­est paid on sav­ings and in­vest­ments was aligned to in­fla­tion rate.

Op­er­at­ing and Staff ex­penses

Op­er­at­ing ex­penses went up by 51% from M35.9 mil­lion in 2016 to M54 mil­lion in 2017 as a re­sult of growth in busi­ness cou­pled with ac­tiv­i­ties that sup­port the same growth. Em­ployee costs grew 28% year-on-year as a re­sult of in­crease in staff com­pli­ment to sup­port growth strat­egy.

Profit Be­fore Tax

Profit be­fore tax for the year was M53.7 mil­lion com­pared to M6.1 mil­lion reg­is­tered in 2016 as a re­sult of cost con­tain­ment mea­sures which man­age­ment put in place cou­pled with up­swing in in­come gen­er­ated from op­er­a­tions em­a­nat­ing from the im­proved prod­uct and ser­vices.

Ac­knowl­edge­ments

Our ap­pre­ci­a­tion goes to all our cus­tomers for their loy­alty and con­tin­ued sup­port. We want to ex­tend our grat­i­tude to all our stake­hold­ers, in par­tic­u­lar, our Staff for pro­vid­ing ex­cel­lent ser­vice to our cus­tomers. We wish to thank the Gov­ern­ment of Le­sotho, par­tic­u­larly the Min­istry of Com­mu­ni­ca­tions, Sci­ence and Tech­nol­ogy and Min­istry of Fi­nance, for their con­tin­ued sup­port and en­gage­ments, Cen­tral Bank of Le­sotho for their guid­ance in reg­u­la­tory com­pli­ance and sta­bi­liz­ing the bank­ing sec­tor. We ap­peal to all our stake­hold­ers to part­ner and sup­port us in all ac­tiv­i­ties we en­vis­age to un­der­take go­ing for­ward. We have heard your voices and com­mit to be your part­ner of choice.

Prospects for 2018

To main­tain the mo­men­tum in the in­creas­ing prof­itabil­ity and to be fully sus­tain­able;

To drive sus­tain­able Cor­po­rate So­cial Re­spon­si­bil­ity that is rel­e­vant to our com­mu­ni­ties;

To con­tinue to be busi­ness part­ner of Gov­ern­ment of Le­sotho through sup­port it in its ini­tia­tives en­shrined in the Na­tional Strate­gic Ob­jec­tives which in­clude em­ploy­ment cre­ation and fi­nan­cial in­clu­sion;

To pro­mote fi­nan­cial lit­er­acy in the gen­eral pop­u­lace in or­der to build fi­nan­cial in­de­pen­dence to our so­ci­ety;

To re­main the most af­ford­able Bank in Le­sotho in re­spect of pro­vi­sion of fi­nan­cial ser­vices.

Boemo ba Lichelete (Fi­nan­cial Po­si­tion) Kholo ea Boleng ba Khoebo (Bal­ance Sheet)

Lipolokelo li fih­letse M1 bil­lion ka Tši­toe 31st 2017, kholo ea 71% ha ho bapisoa le polokelo ea M588.8 mil­lion ka 2016. Sena se bakoa ke bareki ba bacha ba bolokang le rona le tsela tse hloahloa tsa ho qoba tahle­h­elo ea bareki. Ke ka hona boleng ba Banka (bal­ance sheet) bo ny­olo­het­seng ho M1.3 bil­lion, e leng linoko tse 62 lekho­long (62%) pa­pisong le 2016. Kakaretso ea mekoloto e fa­no­eng ke M643 mil­lion, kholo ea 176% pa­pisong le 2016. Mekoloto ena e fa­noe ho motho ka bomong le likhoe­bong.

Tše­beliso ea Chelete Mer­a­long e Me­holo (Cap­i­tal Ex­pen­di­ture)

Banka e se­belisitse ka­holimo ho M62 mil­lion bak­eng sa mer­alo e me­holo e kenyelet­sang ho nchafatsa le ho nt­lafatsa moaho oa Mafike House le oa Ma­put­soe Branch, ho reka li-atms, ho nchafatsa le ho nt­lafatsa likom­poro tsa ho banka (core bank­ing sys­tem) le ho thakhola moralo oa me­chini ea marang-rang ea ho banka (Dig­i­tal Chan­nels Launch Project). Poro­jeke ena ea nt­lafatso ea likom­poro e felile ka Motše­hanong 2017 ‘me Banka ea qala ho li se­belisa ka eona nako eo. Lint­lafatso tsena li tla lateloa ke ho bula lekalana le leng Maseru moa­hong oa Bon­homme House ka 2018. Tse ling tsa lih­lahisoa tse tlang ka 2018 ke ho kenya tše­bet­song lih­lahisoa tsa marang-rang eleng In­ter­net le Mo­bile Bank­ing, Agency le Mer­chant Bank­ing le Mo­bile Money. Banka e kene litšenye­h­e­long hobane e batla ho ipeha ‘mapeng ka ho fana ka litše­beletso tsa morao-morao tsa marang-rang, hore e tsebe ho fana ka lih­lahisoa tse hlokoang ke bareki, ‘me tse tširelet­se­hileng.

Lichelete tse Fu­mane­hang Habobebe (Liq­uid­ity)

Banka e nete­fatsa kamehla hore boemo ba chelete e se­belise­hang habobebe (liq­uid­ity) bo lula bo nepa­hetse esita le nakong eo Banka e se­belisang lichelete tse boima mabapi le mer­alo e me­holo le li­poro­jeke tse kholo tsa lint­lafatso le ho anetsa litše­beletso sech­abeng. Banka e boetse ea tsetela ka bohlale hore e une puse­letso e holimo holim’a mat­sete a eona. Banka e lutse e le seli kamehla hore e ‘ne e itšetlehe ka melao e laolang libanka.

Tše­betso ea Chelete (Fi­nan­cial Per­for­mance) Mouno oa Tsoala / Phaello

Mouno o hlahileng e le tsoala (In­ter­est in­come) o ny­olo­hetse ho M117 mil­lion ka 2017 o tloha ho M53 mil­lion ka 2016. Hona ke tše­betso e khot­so­fat­sang e hlahisit­so­eng ke kholo ea mekoloto e nan­abelit­so­eng bathong ka bo mong le likhoe­bong esita le ho tsetela ho hloahloa mebarak­eng ea lichelete. Lit­soala mabapi le mekoloto ha li eaka tsa fe­toloa, ha lit­soala mabapi le mat­sete li ile tsa ipa­pisa le sekhahla se akaret­sang sa theko (in­fla­tion rate).

Tše­beliso ea Chelete Mabapi le Base­betsi le Tsela ea Mehla ea Khoebo (Op­er­at­ing and Staff ex­penses)

Litšenye­h­elo tse tloaele­hileng li ny­olo­hile ka linoko tse mashome a mahlano le motso o le mong lekho­long (51%) ka kakaretso ea M54 mil­lion ho tloha ho M35.9 mil­lion ka 2016. Hona ke lit­lam­orao tsa ho hola ha Banka le mer­alo e tše­het­sang kholo ena. Litšenye­h­elo tse amanang le base­betsi li ny­olo­hile ka 28% kaha lethathamo la base­betsi le eket­se­hile e ntse e le ho tše­hetsa kholo ena e kholo ea Banka.

Tsoala Pele ho Lekhetho (Profit Be­fore Tax)

Tsoala pele ho lef­shoa lekhetho ke M53.7 mil­lion ha ka 2016 palo ena e ne e le M6.1 mil­lion. Le­baka le leholo la pele ke hore Banka e ‘nile ea tsoe­lapele ho lisa le ho beha tše­bet­song mer­alo ea ho the­ola litšenye­h­elo (cost con­tain­ment), ha la bo­beli e bile mouno o hlahileng lih­lahiso­eng tse ncha tsa Banka.

Kananelo (Ac­knowl­edge­ments)

Re isa lite­boho ho bareki ba rona ba oe­leng ba tsoha le rona. Re boele re lebohe base­betsi ba Banka ka boitelo ba bona mose­bets­ing le litše­beletso tse ntle ho bareki. Re leboha hape ‘Muso oa Mot­lotlehi, e leng bona beng ba Banka, ka kot­loloho re leboha Lekala la Likhoka­hanyo, Mahlale le Tše­beliso ea Mahlale, le Lekala la Lichelete ka litše­hetso tsa oona. Re ip­iletsa ho bohle ba chang ba tšola bankeng ena ho tsoe­lapele ho hoka­hana le rona ho tše­hetsa mer­alo ea rona. Re seke­hetse tsebe likeletso le likhothaletso tsa lona ‘me re it­lama hore re tla se­betsa ‘moho le lona.

Che­be­lopele ka 2018

Ho tsoe­lapele ho holisa phaello ea khoebo hofih­lela Banka e ka ikemela ka bot­lalo;

Ho tsoe­lapele ho tebisa metso ea rona mererong ea ho busetsa sech­abeng ka mer­alo e tla khahlanyetsa litl­hoko tsa sech­aba;

Ho tsoe­lapele ka khoka­hano le ‘Muso oa Mot­lotlehi ka ho ntšetsa pele merero ea ‘ona e ngo­lilo­eng ka har’a toko­mane e bit­soang “Na­tional Strate­gic Ob­jec­tives” e kenyelet­sang ho qala mese­betsi le ho bona hore ha hona batho ba salet­seng kathoko ha ho tluoa tabeng tsa lichelete (fi­nan­cial in­clu­sion);

Ho pha­hamisa lit­sebo tsa math­omo tsa lichelete sech­abeng ka kakaretso e le hore batho ba ikemele karo­long ena ea lichelete;

Ho lula re le Banka e lit­jeo li tlaase ‘me li fih­leloa ke bohle Le­sotho ha ho she­joa litše­beletso tsa libanka ka kakaretso.

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