The HFC Bank has recorded a net profit after tax of $18.267 million for the year ending 30^th June, 2019.

Chairman, Tom Ricketts says this is a 55% increase when compared to the profits for 2017.

The Bank’s total assets reached $1.095bn, which grew by 15% from June 2018. Net Loan grew by $123m (after total run offs of $82m), compared to net growth of $106m in 2018, representing over $200m net growth in 2 years.

Rickets says their efficiencies and productivity coupled with cut down on non-essential expenses has resulted in significant improvement in cost to income ratio.

He says improvements include enhancement of strong capabilities via top talent sourcing for key strategic roles, internal recognition & retention programs and a solid succession plan.

In 2020, the bank plans to continue with strengthening efficiency levels to ensure superior banking experiences for its customers.