17.9 C
Nairobi
Thursday, November 21, 2024
17.9 C
Nairobi
Thursday, November 21, 2024

Kenya National Police DT Sacco Achieves Strong Credit Ratings

The Kenya National Police DT Sacco has received commendable credit ratings from GCR Ratings, earning a Long-Term National rating of A-(KE) and a Short-Term National rating of A2(KE). These ratings reflect the Sacco’s solid financial foundation and its ability to meet financial obligations.

Key highlights include a core capital to total assets ratio of 33%, significantly above the industry average of 16%. Additionally, the Sacco boasts a low non-performing loan (NPL) ratio of just 2.4%, well below the banking sector average of 14.9%. These metrics indicate effective risk management strategies.

The organization has also reported a substantial increase in member deposits, totaling KES 28.7 billion, with 90% classified as non-withdrawable. Its liquidity ratio is a strong 61%, which far exceeds the regulatory requirement of 15%.

GCR Ratings has issued a stable outlook for the Sacco, emphasizing its resilient performance and stable asset quality. CEO Solomon Angutsa expressed pride in this recognition, noting that it reflects the organization’s commitment to financial safety and member service. He reiterated the Sacco’s dedication to promoting saving habits and financial inclusion among its members.

Overall, the strong financial metrics underline the stability of the Kenya National Police Sacco and its capacity to effectively manage its financial responsibilities. The strategic governance structure further supports its commitment to providing excellent service as it prepares for its 2025-2029 strategic plan, affirming its commitment to financial safety and service excellence for all members. As it continues to foster a culture of saving and inclusivity, the Kenya National Police DT Sacco is well-positioned for future growth and success.

 

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

110,320FansLike
33,000FollowersFollow
155,100FollowersFollow
- Advertisement -spot_img
- Advertisement -spot_img

Latest Articles

This will close in 0 seconds