Macro Outlook and Financial Performance
9
Income & Expenses
TOTAL INCOME
1 229
N$ 'm
NII
1 445
1 209
■FY21 ■FY22
1 283
EXPENSES
1 587
1 679
289
161
CREDIT
IMPAIRMENTS
■FY21 ■FY22
•
•
KEY TAKEOUTS
Net interest income (NII) increased
by 17.5%, predominantly due to the
steady 300 basis point (bps)
increase in the repo rate and
ongoing improvement of the net
interest margin, up from 3.9% to
4.4%.
Non-interest revenue increased by
6.1% driven by 31.8% growth in
trading revenue as well growth in
the bancassurance revenue and
newly acquired property portfolio.
⚫ Credit impairments decreased by
44.2% year on year, primarily due to
the ongoing implementation of our
2021 non-performing loan reduction
strategy and the achievement of
related strategic initiatives.
Operating expenses increased by
5.8% to N$1.7 billion, below the
•
average annual inflation of 6.1%.
Standard Bank
OPERATING
NIR
N$ 'm EXPENSESView entire presentation