Online Reporter
Nqobile Bhebhe
Zimpapers Business Hub
First Capital Bank has demonstrated resilience and agility in the face of a subdued global economy, posting strong financial results for the half-year ended June 30, 2025, underpinned by disciplined execution, sustainability-driven investments and a firm customer-centric approach.
While acknowledging headwinds, including inflationary pressures and liquidity constraints, the bank’s leadership expressed confidence in Zimbabwe’s gradual recovery, citing improved agricultural output, currency stabilisation reforms and renewed investor appetite in mining and tourism.
“While global growth remained subdued, Zimbabwe showed early signs of recovery, supported by improved agricultural output, currency stabilisation reforms and renewed investor interest in mining and tourism.
“The period also presented challenges, liquidity remained constrained and the task of managing inflation continued to demand attention,” said First Capital Bank chairman Mr Patrick Devenish.
Against this backdrop, the bank registered a 15 percent growth in net profit to $13,27 million, with capital adequacy levels remaining comfortably above regulatory thresholds.
“In this evolving environment, First Capital Bank demonstrated resilience and agility, delivering a strong performance — while maintaining a clear strategic focus. Net profit grew by 15 percent to $13,27 million, capital adequacy remained well above regulatory requirements, and operational efficiency improved.
“Our balance sheet remains robust, with total assets increasing to $306,9 million and customer deposits reaching $187,4 million, reflecting sustained market confidence in our brand and value proposition. Sustainability is central to our strategy.”
Mr Devenish said the financial institution continues to embed environmental, social and governance (ESG) principles into how we operate, ensuring that our growth remains both responsible and inclusive.
“We are advancing green financing, financial inclusion and aligning governance with the best global practice standards such as IFRS S1 and S2,” said Mr Devenish.
Building on the strategic foundation set by the board, the first half of 2025 focused on disciplined execution, customer growth and responsive market engagement, said chief executive officer, Mr Tapira Mushowira.
“Our 2024 realignment delivered a leaner, more resilient organisation, enabling us to respond effectively to emerging opportunities and navigate a dynamic economic landscape,” he added.
First Capital Bank’s performance demonstrates both agility and focus.
For instance, total income rose 13 percent to $40,94 million, while net profit after tax increased by 15 percent to $13,27 million. The bank improved its cost-to-income ratio to 48 percent from 55 percent.
Customer deposits grew five percent to $187,4 million, while the loan portfolio expanded to $119,2 million, with strong support to agriculture, manufacturing, services and tourism sectors.
Total assets stood at $306,9 million, with a Tier 1 Capital Ratio of 18,6 percent, well above the regulatory minimum.
The bank welcomed over 35 000 new customers, with more than 80 percent actively using digital channels.
“Corporate and Investment Banking remain a key anchor for ecosystem-led expansion, while tailored SME and retail solutions continue to diversify our income streams. Our digital platforms are being enhanced to offer greater convenience, security and accessibility,” said Mr Mushowira.
On sustainability and impact, the bank disbursed $2,1 million in ESG-linked lending targeting women, youth, and underserved communities.
An additional $4,8 million supported solar, borehole and climate-smart agriculture projects.
“We also invested in youth sports development, improved healthcare access, and financial literacy programmes positively impacting over 20 500 young people,” Mr Mushowira said.
Looking ahead, the bank intends to scale market presence, invest in digital innovation and talent, and reinforce governance and risk management frameworks.
“The goal remains clear: to deliver sustainable value to our stakeholders through disciplined growth and customer-centric innovation,” he added.
