MCCU Annual Report - page 36

MANCHESTER CO-OPERATIVE CREDIT UNION
ANNUAL REPORT 2013
36
Asset Growth
Our Organization was able to increase total assets from $3.05 billion in 2012 to $3.36 billion
at the end of the 2013 financial year. This represented a growth of 10.4% for the period. This
was above the average 7.9% total asset growth for the Credit Union Movement.
Loans
The growth in the asset base was driven by a noticeable increase in loans during the year.
A total of $219 million or 14% was added to the net loans portfolio in 2013. The portfolio,
after provisions, stood at $1.79 billion at the end of the year. The increase in the portfolio
was aided by a robust 37% growth in real estate loans. There was, however, a lower than
expected growth in the motor vehicle loan category. Your Board will continue to ensure that
loans remain accessible to you the members, as we aim to maintain buoyant growth in this
core business area.
Assets in JMD $ Millions
Table 4
53% (1790)
42% (1429)
4% (144)
2013
LOANS
INVESTMENTS
OTHER ASSETS
Table 3
Profitability Indicators (%)
Total Income to Assets
2010
2012
14.4
12.7
6.9
7.5
3.2
2.6
2009
17.8
7.4
6.4
Operating Exp. to Assets
Return on Assets
2011
2013
12.8
12.8
7.3
6.8
2.9
2.7
I...,26,27,28,29,30,31,32,33,34,35 37,38,39,40,41,42,43,44,45,46,...126
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