Stima Savings and Credit Co-operative Society realised a surplus of KSh 1,021,122,000 at the end of the financial year ended 31st December 2020.
This is compared to KSh881,619,000 at the end of the prior fiscal year.
Stima SACCO performance
” The Society’s performance in 2020 was satisfactory despite a challenging environment characterised by a subdued financial services sector due to COVID-19 pandemic, desert locust invasion which led to food insecurity and growth of the agricultural sector,” said the Board in a statement.
Members of the SACCO will be paid a dividend of 14% per share and a 10.75% rebate on their deposits.
According to the Society’s audited financial results, the SACCO recorded revenue of KSh 5,027,362,000 in 2020 compared to KSh 4,731,960,000 in 2019. Net Interest Income stood at KSh 2,200, 627,000 in 2020 compared to KSh 2,266,745,000 in 2019.
The Society’s balance sheet size grew to KSh 41,053,170,000 in 2020 compared to KSh 36,532,890,000 the prior year.
Loans to members increased to KSh 32,798, 794,000 from KSh 28,617, 399,000 during the period under review. Members deposits rose to KSh 31,188,264,000 from KSh 28,268,507,000 in 2019.
Interest on members’ deposits stood at KSh 2,440,942,000 in 2020 from KSh 2,125,658,000 in 2019.
Stima SACCO held its virtual Annual Delegates Meeting(ADM) on 16th March 2021 at the Society’s property located in Mwiki, Kasarani-Nairobi.
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