VMBS raises profit in 2014

VMBSVictoria Mutual Building Society (VMBS) reports a slight increase in profit of $1 billion for 2014 up from $943 million in 2013.
VMBS generated income of $7.2 billion in 2014 and in 2013 revenues of $6.5 million. The group ended with assets of $97 billion up from $86 billion. Equity capital rose to $11.35 billion from $10.37 in 2013. Mortgage loans rose $31 billion from$27 billion in 2013 and cash funds of $10 billion. Other major assets are Repos amounting to $16 billion, investments mostly in government securities $33.5 billion. VMBS is primarily in the business of providing home mortgages.

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