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Banks Performed Way Better Than Expected In The First 6 Months Of This Year: Here Is Each Bank’s Profit

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RBZ, Central bank Zimbabwe, Zimbawean Financial Institutions

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.

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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;

Banks6 Months Profits to June 20186 Months Profits to June 2017Percentange Increase/Decrease)
AgriBank$4,1 million??
Barclays$13,6 million$9,5 million43%
CBZ$34,3 million$11,9 million 187.09%
NedBank$4,3 million??
NMB$9 million$3,5155.46%
Stanbic$16,4 million$12,8 million28.13%
ZB bank$9,3 million$8.1 million14.52%
CABS$42 million??
National Building Society$567 113$(633 662)10.5%
POSB$8.11 million?
FBC$14,8 million??

N.B-profits mean Profit After Tax

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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.


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2 thoughts on “Banks Performed Way Better Than Expected In The First 6 Months Of This Year: Here Is Each Bank’s Profit

  1. high bank transaction charges ie,rtgs, ecocash transfers,pos transactions above all liquid crunch hence customers go for months without any bank cash withdrawals.

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