Auditors Report of 2017 Fiscal Year
Independent auditors have released their audit findings regarding overall operational and financial performances of the company as at 30 June 2017. The report encompasses statement of company’s financial position, comprehensive income, cash flow statement and the related financial and operational issues.
Operational Performance (Outreach, Disbursement & Deposit)
During 2017, OCSSCO has lent 6,359,421,332 birr to 826,157 borrowers. This indicates the company’s disbursement and client outreach performances have grown by 60.93% & 8.82% respectively when compared against performances of the previous fiscal year which was 3.9 billion birr disbursed to 759,185. Savings collected during the operational year is also mounted 3,715,444,863 from 2.4 billion of 2016 performance.
Financial Performance (Capital, Asset & Income)
According to the report, OCSSCO has also demonstrated growth by capital formation, asset growth and net profit. As the data shows, the capital has grown by 24.98% from 1,514,618,930 to 1,892,996,930 birr. Similarly, the asset of the company has reached 8,628,006,709 during the same period of report. The net income is also reported as 378,176,193 birr as of 30 June 2017 which is grown by 23.25% when compared against performance of the last year which was 306,812,596 birr.
In general, the report indicates as the company is growing both operationally and financially that laying reliable foundation for its sustainability.