Online Reporter
Business Reporter
GROWING customer deposits have strengthened First Capital Bank Zimbabwe’s capacity to finance businesses and support economic activity, as the bank reported a strong performance for the six months which ended on June 30.
In a statement, the bank said customer deposits increased by 24 percent to US$249 million, providing a stronger funding base from which the bank grew loans and advances to US$165 million, while profit after tax reached
US$16,7million, up 26 percent from the corresponding period.
First Capital Bank Chief Executive Officer, Mr Tapera Mushoriwa, said the performance reflects growing customer confidence in the Bank and, importantly, gives First Capital Bank greater capacity to put those deposits to work across the economy.
“For us, deposit growth is ultimately about what it enables us to do. When more customers choose to place their money with First Capital Bank, it increases our capacity to put that money back to work by supporting businesses, facilitating trade and financing productive activity,” he said.
During the first half of the year, First Capital Bank continued to deploy funding across agriculture, mining, service sectors, providing working capital, trade finance, lending and transaction banking solutions. Loans and advances reached US$165 million, representing 28 percent growth from December 2025.
Mr Mushoriwa said a stronger balance sheet must ultimately translate into greater support for customers.
“Our clients want a banking partner that understands their business, can respond when opportunities arise and has the capacity to support their ambitions. For us, that is what it means to be the bank for doing business.”
The bank also attributed its deposit performance to mining, agriculture and service sectors, reflecting both new customer acquisition and deeper relationships with existing clients. Deposit mobilisation remains a key focus as the Bank seeks to build sustainable funding that can be deployed back into productive economic activity.
Beyond financing, First Capital Bank is also investing in platforms that deepen business relationships.
Its inaugural First Capital Bank Padel Cup brought clients and business leaders
together in an informal networking environment, reflecting the Bank’s view that the next business opportunity can often begin with a conversation.
The bank has also continued investing in its digital and physical channels to make it easier for customers to transact and do business. Customer adoption of digital and self-service banking channels remained strong during the period, with ATM adoption growing by 28 percent, supported by continued investment in the bank’s branch network.
First Capital Bank’s performance has also enabled it to continue investing beyond banking, supporting initiatives across education, youth development, sport and access to clean water in communities across Zimbabwe.
Chief Financial Officer, Mr Nuno Simoes said the bank’s H1 performance reflects a deliberate focus on sustainable balance-sheet growth and disciplined deployment of capital.
“The growth in our deposit base has strengthened our funding position and gives us greater capacity to support lending while maintaining the financial discipline required for sustainable growth. As we move into the second half, our focus remains on growing quality deposits, deploying capital responsibly and
maintaining a strong and resilient balance sheet,” said Mr Simoes.
Looking ahead, the bank said its priorities for the second half of 2026 include further deposit mobilisation, responsible growth in lending, increased transaction volumes and deeper customer relationships.
Mr Mushoriwa said the bank enters the second half with a strong foundation but remains focused on execution.
“There is more business to be done. We want to attract more deposits, put more of that funding to productive use and continue building relationships that help our customers move their businesses forward,” he said.
