Letshego Holdings Namibia has declared a dividend of 29.52 cents per ordinary share, which is payable by 3 June 2022, for the period ended 31 December 2021. This was confirmed last week in the bank’s financial results for the year under review.
According to the latest financial results, the overall profit and earnings per share however decreased marginally by 5.5%, while profit after tax stood at N$303.2 million from N$320.8 million in 2020.
Letshego adopted organisational design efficiencies, enterprise agility and a collaborative culture to continue operations under Covid-19 market conditions by embracing digital channels for service delivery.
As per the results, this has allowed Letshego to reflect performance that depicts business resilience and improvement as shown by growth in revenue of 6% and advances of 18% and an increase in the micro lending book of 55.7%.
The bank remained well capitalised with a capital adequacy ratio of 59%. In addition, the local borrowing base increased to N$2 billion to finance growth and decrease reliance on parent funding.
“While economic conditions are expected to remain challenging over the medium-term, Letshego continues to pursue competitively priced local funding lines. The company made its inaugural debt issuance on the Namibian Stock Exchange in May 2021, continues to increase deposit mobilisation and focuses on cost discipline and capital optimisation strategies to enable sustainable delivery of inclusive finance agenda,” reads the statement.