adminBrighton Gumbo Business Reporter
CABS has scooped this year’s top performing bank award ahead of other big banks such as Stanbic, Standard Chartered and First Banking Corporation.
The financial institution has won this award, which is based on results of a survey of banks’ performance, for two consecutive years.
In a statement, CABS said the survey considered a number of metrics like the size of the bank’s balance sheet in relation to the country’s gross domestic product (GDP).
“Banks were surveyed through their ability to lend, levels of competitiveness, expansion and levels of non-performing loans, among other factors,” it said.
The bank said among others the balance sheet size as represented by growth in loans and deposits among other criterion was also used in the survey.
It said risk profile metrics namely loans-to-deposit, capital adequacy and operating profits to total income were also measured.
“The survey also measured profitability, cost-to-income and non-funded to total income, domestic franchise as represented by market share of deposit, asset quality as represented by non-performing loans to total loans and funding liquidity; liquid assets to total deposit and borrowings,” said CABS.
The survey, launched in 2009, is conducted every year to analyse trends in the banking sector.
The findings are based on the premise that the strongest banks in the country were those that have clear robust domestic business franchise, reasonable profit levels, good asset quality and low risk to earnings and liquidity.
CABS is one of the established and strong brand names in Zimbabwe’s financial retail market.
The institution offers a diverse range of financial products and services that include transaction and savings accounts, mobile banking, mortgage loans, money market investments, term deposits and pay-roll loans.
Online Reporter