The Development Bank of Samoa recorded a loss of close to a million tala at the end of the first quarter of the financial year 2021-2022. This was revealed in the Ministry of Public Enterprises’ quarterly reports.
“The DBS recorded a Net Loss after Tax of $962,760 at the end of the quarter,” says the report.
Another aspect of the quarterly report indicated a total of 99 applicants valued at $1.3m were approved by the end of the quarter under
review, exceeding the budget of $1.2million by 7 percent.
“Total collection received at quarter-end was recorded at $3.9million, which is 22 percent more when compared to budget of $3.2million. A total of 52 percent of loan collection is received while 48 percent is from large loans.
“The total loan portfolio recorded as of 30th September 2021 amounts to $138.8million, which is lower than budget by 2 percent.”
