Bank Windhoek reaps rewards

BANK Windhoek last week released its annual results which showed the commercial entity realised growth for the period ended June 30 2007.

Earnings growth for the year under review grew by 26,8 per cent to N$248 million before tax compared with earnings of N$196 million for the previous year. Earnings per share shot up by 26,3 per cent to 3,449 cents per share and delivered a return of 26,6 on shareholder’s equity for the year.Bank Windhoek, the only wholly owned commercial bank in Namibia, managed during the financial year in November, to acquire Absa’s 34,4 per cent stake in its holding company, Capricorn Investment Holdings.Bank Windhoek Managing Director James Hill said during the period under review the bank had exceeded its financial targets, adding that he expected his bank to grow its business amid the challenges in the competitive sector of banking.”With the change of ownership, Bank Windhoek looks forward to further strengthening its position in the market as a bank that can make quick and local decisions, enabling us to meet the demands and expectations of our clients,” said Hill.Hill said through the Bank Windhoek’s Social Investment Fund and its sponsorship and donations programme, the bank invested more than N$6 million in various projects including health, education, job creation, the arts and sports.Earnings per share shot up by 26,3 per cent to 3,449 cents per share and delivered a return of 26,6 on shareholder’s equity for the year.Bank Windhoek, the only wholly owned commercial bank in Namibia, managed during the financial year in November, to acquire Absa’s 34,4 per cent stake in its holding company, Capricorn Investment Holdings.Bank Windhoek Managing Director James Hill said during the period under review the bank had exceeded its financial targets, adding that he expected his bank to grow its business amid the challenges in the competitive sector of banking.”With the change of ownership, Bank Windhoek looks forward to further strengthening its position in the market as a bank that can make quick and local decisions, enabling us to meet the demands and expectations of our clients,” said Hill.Hill said through the Bank Windhoek’s Social Investment Fund and its sponsorship and donations programme, the bank invested more than N$6 million in various projects including health, education, job creation, the arts and sports.