Our View:
 We expect net interest income to grow going forward due to accelerated regional expansion initiatives supported by a larger capital base creating greater potential for loan book growth

 We expect high quality loan book and prudent NPL provisions to be sustained going forward as the Bank has historically had lower non performing ratios.


Key risk:
 The company faces stiff competition from its peers who have a larger capital base, ventures in regional markets and are diversifying away from traditional banking.