POSB to report 2013 profit

POSB to report 2013 profit
Published: 05 February 2014

The People's Own Savings Bank expects to report a profit in the year to December 31 2013, driven by the realignment of cost and revenue structures in the second half of the year.

The performance was however inferior to the $2.47 million profit achieved in the prior year.

Responding to questions, POSB chief executive Admore Kandlela however said the bank's performance was impeded by the Memorandum of Understanding between the Reserve Bank of Zimbabwe and banks which was cancelled late last year.
- herald
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