It’s that time of the year when banks are announcing their annual financial results. So far, CABS, POSB, EcoBank, Metbank, Stanbic, NMB, Agribank, BancABC and FBC have all reported profits.
The only bank that didn’t make a profit is NBS, understandably because the bank is new. Agribank apparently made the first profit in 7 years (2009 was the last time). This was a very good year for the banks.
Here’s a list of the banks and the profits they made in 2016. More banks will be announcing results in the coming weeks, and we’ll be updating this article as the results come.
5. Steward Bank $8.4 million profit
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Metbank is a registered commercial bank in Zimbabwe. The bank was founded in 1999 and has about 7 branches in all of Zimbabwe's major cities. Metbank is a subsidiary of Loita Financial Holdings Limited, an investment banking firm with operations in 8 African countries, including... Read More About Metbank
NMB Bank Limited is a registered commercial bank in Zimbabwe. It is the principal subsidiary of NMBZ, a Zimbabwean based investment holding company. The bank was founded in October 1992 by James Mushore and others. The bank's group has a dual listing on the Zimbabwean... Read More About NMB Bank
The National Social Security Authority is Zimbabwe's social security company which was established in 1989 in terms of the NSSA Act of 1989, Chapter 17: 04, an act of parliament. The firm administers social security public funds on behalf of about 1,3 million contributors. NSSA... Read More About NSSA