The New Building Society Limited (NBS) registered a profit for 2015 of $1.259 billion, 12.9% down from the $1.446 billion in 2014.
Its financial statement for the year ended December, 2015 which was published in yesterday’s Stabroek News showed that interest income on loan assets rose to $2.37 billion in 2015 from $2.26 billion in 2014.
Interest expense rose from $1.75 billion in 2014 to $1.89 billion in 2015. General administrative expenses were up from $492 million in 2014 to $505.7 million last year. Net provision for impairment on loan assets moved from $9.1 million in 2014 to $13.4 million last year.
There was also a re-measurement of the provision of employee benefits which incurred an expense of $180.9 million. Total comprehensive income for the year was therefore $1.078 billion for 2015 compared to the $1.426 billion in 2014.
Loan assets rose from $36.9 billion in 2014 to $37.3 billion last year.
