BancABC profits jump on increased lending

The bank attributed the increase to interest income which rose on the back of significant growth in lending in the last quarter of 2015 with full year impact on interest income being felt in 2016.

According to the bank’s acting managing director, Nomathemba Segage, most income lines were above prior year with the expectation of fees and commission, adding that total assets increased by four percent during the year and return on equity improved from 17% to 20%.