FINANCIAL SERVICES

POSB to establish exporters' credit facility

The People's Own Savings Bank (POSB) says it will soon unveil a $10 million line of credit aimed at assisting exporters to secure foreign currency.A persistent trade deficit has plunged Zimbabwe into ...

By Staff reporter | Published: 07 September 2018

FINANCIAL SERVICES

Interest caps hit POSB income

POSB's net interest income declined by 9,84% to $11,02 million in the financial year ending December 31, 2017, which it blamed on the interest caps put in by the central bank last year.Net interest in...

By Staff reporter | Published: 07 June 2018

BUSINESS NEWS

POSB expects higher 2018 profit

THE People's Own Savings Bank (POSB) is expecting increased profits in the year to December 31, 2018 on the back of growth in retail and corporate banking as well as mortgages.POSB chairperson, Matild...

By Staff reporter | Published: 13 April 2018

FINANCIAL SERVICES

POSB posts rise in profit

THE People's Own Savings Bank (POSB) posted a profit of $11.3 million for the year ended December  31, 2017 up from $9.6 the previous year.Board chairperson, Mrs Mathilda Dzumbunu, said the posit...

By Staff reporter | Published: 02 April 2018

FINANCIAL SERVICES

POSB eyes one million clients

THE People's Own Savings Bank (POSB) says it is targeting to increase its depositors to one million before the end of this year as part of its five-year strategic plan.Addressing chief executives from...

By Staff reporter | Published: 26 March 2018

FINANCIAL SERVICES

POSB hunts for loan takers

THE People's Own Savings Bank (POSB) has signed nine Memorandum of Agreements (MOA) with different corporates and institutions of higher learning in the country under its loan financing scheme.Speakin...

By Staff reporter | Published: 07 December 2017

FINANCIAL SERVICES

POSB embarks on skills audit exercise

Financial services provider POSB, has embarked on a skills audit exercise as part of its restructuring programme, according to an internal memo seen by The Herald Business.The exercise-being conducted...

By Staff reporter | Published: 23 November 2017

BUSINESS NEWS

POSB depositors surge to 600 000 in three years

THE People's Own Savings Bank (POSB) has survived the hard economic conditions in the country and its depositors have risen to 600 000 in the last three years.This was revealed by the bank's public re...

By Staff reporter | Published: 19 September 2017

FINANCIAL SERVICES

POSB joins mortgage financing race

THE People's Own Savings Bank (POSB) has disbursed $1,5 million in mortgage financing since certification early this year, as the bank announces its arrival in a competitive industry.The mortgage sect...

By Staff reporter | Published: 24 August 2017

FINANCIAL SERVICES

POSB launches mortgage finance division

The People's Own Savings Bank (POSB) has launched a mortgage finance division as it spreads its products to increase revenue streams and consolidate its market.The new division seeks to finance housin...

By Staff reporter | Published: 23 August 2017

BUSINESS NEWS

POSB to report 2013 profit

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 h...

By Staff reporter | Published: 05 February 2014

FINANCIAL SERVICES

POSB reports a loss

THE People's Own Savings Bank (POSB) recorded a loss of $131 000 in operating profit in the first half of the year partly due to a drop in non- interest income and a decline in revenue reserves.Accor...

By Business reporter | Published: 30 August 2013

FINANCIAL SERVICES

Restructuring of POSB begins

Restructuring of the People's Own Savings Bank has started, following the engagement of legal and financial advisors to facilitate the transaction, Parastatals and State Enterprises Minister Gorden M...

By Business Reporter | Published: 10 June 2013

FINANCIAL SERVICES

Government to sell stake in POSB

The Government has agreed to relinquish a 49 percent stake in People's Own Savings Bank (POSB) following approval of the restructuring and privatisation plan which will transform the bank into a com...

By Staff reporter | Published: 10 June 2013

FINANCIAL SERVICES

Govt restructures POSB

Government recently approved restructuring proposals that will transform the shareholding structure in POSB and lead to the possible listing of the bank on the Zimbabwe Stock Exchange (ZSE), State E...

By Staff Reporter | Published: 10 June 2013
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