Wednesday, 03 May 2023 09:56

Dolla Financial Services reports increased profit

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Micro lender Dolla Financial Services is reporting more profits in its first quarter, ended March. 
After meeting tax obligations, the company registered $123.2 million. 
That's $63.4 million more than the corresponding period in 2022, when the company made $59.85 million.  
Total income for the three month period stood at $297 million, an increase of $156 million or 110 per cent year on year.
Dolla says the increase came as it disbursed more loans during this period. 
At the end of the quarter, Dolla's loan portfolio increased by 161 per cent, amounting to $2.3 billion.