daniel chigunwe
Business Writer
CBZ Holdings Limited has announced solid financial results for the nine months ended September 30, 2024.
The Group recorded a profit after tax of ZiG1.01 billion, driven by a total income of ZiG2.68 billion.
Net interest income reached ZiG880.02 million, supported by a well-managed loan portfolio of ZiG8.90 billion.
The group’s performance was underpinned by a robust asset base, diversified revenue streams and a customer-centric strategy, according to Rumbidzayi Angeline Jakanani, group chief governance officer.
Notably, non-interest income amounted to ZiG1.80 billion, reflecting the group’s successful diversification efforts and its ability to generate income from a range of financial services, Jakanani said.
A strong deposit base of ZiG18.51 billion provided a solid foundation for lending activities and liquidity management.
Jakanani said, the group’s strategic focus on customer-centric solutions and market expansion has enabled it to navigate economic challenges and seize growth opportunities.
Looking ahead, the group remains optimistic about the future, Jakanani said.
She said while global interest rates are expected to gradually ease, potential risks such as US elections, geopolitical tensions, climate change and health crises could impact the global economic outlook.
In Zimbabwe, the upcoming 2025 National Budget, favorable rainfall prospects, strong gold prices, and ongoing infrastructure projects are expected to support economic growth, according to Jakanani.
She said CBZ Holdings is committed to leveraging its strong financial position and diversified product offerings to create long-term value for its stakeholders.
Bongani Ndlovu