The Development Bank of Namibia has reported a significant growth in assets, with an increase from close to 2,9 billion dollars in 2014 to 4,5 billion dollars in March 2016. Tabling the bank’s Financial Report for 2016 in the National Assembly, Chief Executive Officer Martin Inkumbi noted an asset growth of 57% due to high loan book growth. Inkumbi attributed the positive growth to the change in strategic focus, moving away from financing SMEs to infrastructure development with enterprises. He said this had resulted in an annual turn-over of more than 10 million dollars, together with business projects, valued at the same amount. SME financing is now the responsibility of the SME Bank, whose mandate is to finance smaller enterprises. The majority of the bank’s financing during the period under review has been channeled to infrastructure with the allocation of 1,6 billion dollars. Over 63% was allocated to utility infrastructure, while 16% went to business infrastructure and more than 8% to public infrastructure. The bank’s net interest grew by 57% from 215 million dollars in 2014 to 339 million in March. Its net income grew from 147 million to 208 million dollars during the same period. Loan and advances grew by 65% from 2 billion in January 2014 to 3 billion dollars in March 2016.