Housing Corporation records YTD net profit after tax of $2.79 million tala


There were 215 loans approved by the Samoa Housing Corporation during the quarter from January to March 2022 valued at $855,00. 

The Corporation achieved a net profit after tax (NPAT) of close to $800,000 during the quarter, leading to a YTD NPAT of $2.79 million tala. 

This was confirmed by the Ministry of Public Enterprises quarterly report for the Corporation. 

Total collections have decreased by 51% as well as disbursements by 760% compared to last quarter, mainly due to covid-19 lockdown that the Country encountered during the quarter. 

The total number of loan portfolios is 2,963 with a value of $65.88 million. 

For its rental portfolio, the report says the total collection from rental properties has increased from $156k in the last quarter to $166k in the current quarter.