Nexbank recently released its financial results for the fourth quarter of 2015, and they are quite positive. It has set new records for assets, earning, deposits, and loans for the fourth year consecutively. Its Return on Average Equity increased to 35% in 2015. In addition, net income has increased to $53.2 million. It is a significant boost as compared to ROAE of 23% and net income of $25.6 million in 2014.
It total assets grew by 48% to reach $2.72 billion by the year’s end. In addition, its deposits increased to $1.88 billion, a 32% growth for the year 2015. Its loans had increased by 42% to reach $1.97 billion for the year 2015. A major contributor to this growth was NexBank SSB, which is a leading regional bank. According to the CEO of NexBank Capital, Inc., it is a reflection of its profitable and efficient platform. The company’s goal is to stay focused on the growth of its business in the US. NexBank’s strategy is to consolidate its position of strength to strengthen and expand the products it has on offer. It acquired College Savings Bank in November 2015. It was a strategic move to find a long-term funding strategy. The acquisition gave NexBank an extra source for deposits.
The organization offers financial services to its clients via three main approaches. Firstly, is through Mortgage Banking, Commercial Banking and lastly via Investment Banking. The organization avails its financial solutions to individuals and corporations throughout the country.
The company has reached its current position of strength by working only with the best. It is what has allowed it to come up with creative and innovative products for all its clients. Combined with its team of qualified professionals, it has become a leader in the financial world.
NexBank has been around for quite a while. It has experience, which dates back to 1922. It has allowed it to offer its clients some of the best products in the financial world.