Online Reporter
Business Reporter
First Capital Bank Zimbabwe has bolstered its capacity to finance businesses after customer deposits rose 24 percent to US$249 million in the six months to June, strengthening the bank’s funding base amid growing demand for financial services.
The growth in deposits enabled the bank to expand loans and advances by 28 percent to US$165 million between December 2025 and June 30, 2026, with funding directed towards productive sectors of the economy.
Profit after tax also increased 26 percent to US$16,7 million during the period, reflecting improved performance as the bank continued to grow its balance sheet and deepen relationships with customers.
First Capital Bank chief executive officer Mr Tapera Mushoriwa said the increase in deposits demonstrated growing confidence in the institution while creating greater scope to channel funds towards economic activity.
“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, the bank deployed funding across agriculture, mining and services, providing working capital, trade finance, lending and transaction banking solutions.
The increase in deposits was attributed largely to the mining, agriculture and services sectors, reflecting both the acquisition of new customers and deeper relationships with existing clients.
The bank said deposit mobilisation remained a key priority as it seeks to build sustainable funding that can subsequently be deployed into productive economic activities.
The expansion in lending comes at a time when access to affordable and adequate financing remains critical for businesses seeking to expand operations, finance working capital and take advantage of emerging opportunities.
Mr Mushoriwa said the bank’s stronger balance sheet needed to translate into tangible support for its 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,” he said.
Beyond lending, First Capital Bank continued to invest in its digital and physical banking infrastructure, with customer adoption of digital and self-service channels remaining strong during the period.
ATM adoption increased 28 percent, supported by continued investment in the bank’s branch network, as the institution sought to make it easier for customers to transact and conduct business.
The bank also continued efforts to deepen relationships with its corporate and individual clients, including through its inaugural First Capital Bank Padel Cup, which brought together clients and business leaders for networking.
Chief financial officer Mr Nuno Simoes said the first-half performance reflected a deliberate approach to sustainable balance-sheet growth and disciplined capital deployment.
“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,” he said.
Mr Simoes said the bank would focus during the second half of the year on attracting quality deposits, deploying capital responsibly and maintaining a resilient balance sheet.
For the remainder of 2026, First Capital Bank said its priorities would include further deposit mobilisation, responsible growth in lending, increased transaction volumes and deeper customer relationships.
Mr Mushoriwa said the bank was entering the second half of the year from a stronger position, but remained 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.
