Stima Sacco posted impressive results in 2018 growing its net profit by 52 per cent to KSh 849 million from KSh560 million posted in 2017. The jump in net profits was supported by increased revenue which expanded by 15 percent to reach KSh4.6 billion.
The Sacco ranked second in Kenya in terms of deposit size, grew its membership number by adding 10,323 new members, a 10 percent growth. As a result, its members’ deposits increased by 14 percent to KSh24.9 billion from KSh21.9 billion.
The firm’s total assets increased from KSh28.6 billion to KSh32.2 billion while its liabilities increased from KSh24.7 billion to KSh27.9 billion. Its core capital went up by 23 percent to KSh4.2 billion strengthening its ability to withstand tough economic condition.
Following the good performance, the directors recommend a total dividend payment of 14 percent per share and a 10.5 percent interest refund on 2018 members’ deposits.