Atlas Mara Limited reports unaudited results for the first quarter of 2015

BVI-incorporated financial services group Atlas Mara Limited announced unaudited financial results for the first quarter period ended 31 March 2015. The company reported profit after tax in the amount of US$0.5 mln; net profit of the Southern Africa segment, represented by ABC Holdings Limited, was US$4.7mln during the first quarter of 2015, the West Africa segment, represented by company’s stake in Union Bank of Nigeria plc, reported net profit of US$5.2mln, while the East Africa segment, represented by BRD Commercial Bank Ltd. and BancABC Tanzania, reported a US$2.1mln loss.

BVI company’s loans and advances reported in the first quarter of 2015 were US$1,243.1mln, deposits were US$1,518.1mln, and equity attributable to ordinary shareholders was US$658.7mln. Loan and deposit growth increased by 13 per cent and 26 per cent, and equity decreased by 2 per cent, if compared to the same period of 2014.

In this three month period, Atlas Mara completed the investment in BancABC, in connection with company’s acquisition of the bank in 2014. In February 2015, BancABC shares were delisted from the Zimbabwe and Botswana stock exchanges.

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