Most banks registered profits during the first 6 months of 2018. Better yet, many witnessed percentage growth in their profit in the first 6 months to 2018 as compared to the first 6 months of 2017.
Although bankers have complained about an adverse economic environment, their financial statements show that they have managed to shrug the ‘negative energy’ off. However, virtually all banks owe a substantial chunk of their profits to the corresponding increase of non-interest income (i.e income derived primarily from fees including deposit and transaction fees, insufficient funds fees, monthly account service charges, inactivity fees, etc.) in the first 6 months of 2018. Check the profits the banks racked in below;
|Banks||6 Months Profits to June 2018||6 Months Profits to June 2017||Percentange Increase/Decrease)|
|Barclays||$13,6 million||$9,5 million||43%|
|CBZ||$34,3 million||$11,9 million||187.09%|
|Stanbic||$16,4 million||$12,8 million||28.13%|
|ZB bank||$9,3 million||$8.1 million||14.52%|
|National Building Society||$567 113||$(633 662)||10.5%|
N.B-profits mean Profit After Tax
N.B- CABS profits also includes profits of Old Mutual Zimbabwe Limited as whole
N.B- The “?” mean that we currently don’t have information of that bank in that section
N.B- This is not the complete list of banks, we are still waiting for financial statements from other banks like Steward Bank etc.