FINANCIAL SERVICES

CBZ records strong earnings

CBZ Holdings Ltd reported seemingly strong earnings and made it rain for investors but the currency situation did not play in favour of the financial services group.A quick analysis of the December 20...

By Staff reporter | Published: 03 May 2019

FINANCIAL SERVICES

ZB's TB holdings up 25%

Half of ZB Financial Holdings Ltd's Treasury Bills (TBs) will mature in the current financial year and the institution will increase its stock of the paper as it becomes available, chief executive Ron...

By Staff reporter | Published: 03 May 2019

FINANCIAL SERVICES

Ecobank doubles full-year income

ECOBANK doubled its full-year earnings to December 2018 thanks to increased investments in fixed income securities, fee and commission income and net foreign exchange income.Interest and similar incom...

By Staff reporter | Published: 03 May 2019

FINANCIAL SERVICES

StanChart scales down in Zimbabwe

STANDARD Chartered has retrenched more than 100 employees with more lay-offs planned as the bank has begun outsourcing some of its operations in Zimbabwe to countries such as Kenya, Malaysia, China an...

By Staff reporter | Published: 03 May 2019

FINANCIAL SERVICES

ZB mobilises offshore lines of credit

ZB Financial Holdings says it has successfully mobilised offshore lines of credit to support the productive sector of the economy as the group increased its profit after tax by 54% to US$21,8 million ...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

Ecobank Zimbabwe standout performer among banks in F18

Ecobank Transnational Incorporated (ETI) is targeting a return on equity of over 20% in the short term for its Central, Eastern and Southern African (CESA) banking segment and is overall satisfied wit...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

NMB stockpiles Govt commercial paper

NMBZ Holdings has increased its portfolio of Treasury Bills (TBs) by 27,1% during the year to December 31,2018 to US$117,2m. In 2017, the group's TBs holding stood at US$92,2m.The financial results fr...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

StanChart rolls out retail digital banking

The country's oldest financial institution, Standard Chartered Bank Zimbabwe (StanChart), is planning to strengthen its franchise by rolling out its first digital banking platform for its retail custo...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

CBZ Holdings sitting on US$2,44bn asset base

CBZ Holdings Limited reported that its asset base grew to US$2,44 billion in the full year to December 2018 from US$2,1 billion in the previous year, making it one of the largest companies by asset si...

By Staff reporter | Published: 01 May 2019

FINANCIAL SERVICES

ZB mobilises offshore lines of credit

ZB Financial Holdings says it has successfully mobilised offshore lines of credit to support the productive sector of the economy as the group increased its profit after tax by 54% to US$21,8 million ...

By Staff reporter | Published: 01 May 2019

FINANCIAL SERVICES

Zimbabwe's outlook remains bleak - Stanbic

STANBIC Bank Zimbabwe reported a 42% increase in after-tax profit to US$39,15 million in the year to December 2018, but the bank has warned that growth prospects for 2019 remain weak.In a statement ac...

By Staff reporter | Published: 30 April 2019

FINANCIAL SERVICES

Agribank on schedule for $100m capitalisation

AGRICULTURE development bank, Agribank says it expects to attain US$100 million capitalisation by January 2020, predominantly for agriculture financing and development. This development comes on the b...

By Staff reporter | Published: 29 April 2019

FINANCIAL SERVICES

MetBank names Marandure new chairperson

METBANK has announced the appointment of a new chairperson who takes over from Wilson Manase whose tenure has expired.In a statement, the bank said Darlick Marandure took over from Manase in June 2018...

By Staff reporter | Published: 28 April 2019

FINANCIAL SERVICES

Stanchart posts 38% improvement in profit-after tax

STANDARD Chartered Bank Zimbabwe (Stanchart) has posted a 38% increase in profit-after-tax to US$18,36 million in the full year ended December 31, 2018, driven by the bank's digitisation strategy.The ...

By Staff reporter | Published: 26 April 2019

FINANCIAL SERVICES

Agribank avails $6m livestock facility

AGRIBANK has availed a US$6 million facility to livestock farmers as part of efforts to boost livestock production across the country. The financial institution has said it is targeting beneficiaries ...

By Staff reporter | Published: 26 April 2019

FINANCIAL SERVICES

Ipec reads riot act to insurance firms

Businesses in the insurance industry that fail or delay paying out claims of admitted liabilities under any policies risk having their operating licences cancelled as stipulated at law, according to t...

By Staff reporter | Published: 26 April 2019

FINANCIAL SERVICES

Steward Bank partners Chinese card firm UPI for financial card services

STEWARD Bank has partnered Chinese financial services firm, UnionPay International (UPI), to provide payment services for Zimbabweans travelling between the southern African country and Beijing."Basic...

By Staff reporter | Published: 25 April 2019

FINANCIAL SERVICES

Agribank targets $50m in foreign credit lines

AGRIBANK is targeting between US$40 million and US$50 million in fresh lines of credit from international financial institutions for on-lending to exporters, the bank's chief executive Sam Malaba has ...

By Staff reporter | Published: 24 April 2019

FINANCIAL SERVICES

Afreximbank disburses €100m to Mota-Engil Africa

Regional lender, African Export-Import Bank (Afreximbank) has disbursed a €100 million facility to a revolving global credit facility to support Mota-Engil Africa implement key developmental project...

By Staff reporter | Published: 24 April 2019

FINANCIAL SERVICES

BancABC doubles profits on increased lending

BANCABC'S after tax profit increased more than two-fold to US$10,8 from US$5,2 million in the full year ended December 31, 2018, driven by growth in net interest income as the bank upped its lending.I...

By Staff reporter | Published: 24 April 2019

FINANCIAL SERVICES

Capital Bank Corporation provisionally winds up

Capital Bank Corporation has been provisionally wound up after the financial institution failed to service its debts amounting to over $25 million.The decision by the High Court followed an applicatio...

By Staff reporter | Published: 12 February 2019

FINANCIAL SERVICES

Untu Capital foreign backers withdraw support

African Guaranteed Fund (AGF), the foreign backers of Untu Capital's bond issue, have withdrawn their support to the microfinance company citing Zimbabwe's current unpredictable economic environment, ...

By Staff reporter | Published: 06 February 2019

FINANCIAL SERVICES

ZB adjusts housing project costs

ZB Financial Holdings Limited (ZBFH) is making pricing adjustments for its Plumtree housing project due to cost escalations, chief executive Ron Mutandagayi has said."The cost escalations have caused ...

By Staff reporter | Published: 04 February 2019

FINANCIAL SERVICES

WorldRemit launches money transfer service from SA to Zimbabwe

Leading digital money transfer service WorldRemit has launched low-cost online money transfers from South Africa to Zimbabwe.Using the WorldRemit app or website, Zimbabweans living in South Africa can...

By Staff reporter | Published: 31 January 2019

FINANCIAL SERVICES

Zimbabwe commercial bank deposits surge 25% to $8 billion

Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review of Octobe...

By Staff reporter | Published: 30 January 2019
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