Online Reporter
Nqobile Bhebhe, Zimpapers Business Hub
NMB Holdings Limited says it remains firmly on a growth trajectory despite incurring significant restructuring costs during the first half of the year, as the financial services group continues its transition towards a digital-first and more efficient operation.
The Group recorded comprehensive income of ZWG98,9 million for the period under review, up from ZWG56,1 million in the corresponding period last year.
However, this performance was impacted by once-off restructuring expenses amounting to ZWG138,5 million.
“Restructuring expenses of ZWG138,5 million were incurred during the year, primarily linked to a strategic shift towards a more digital and efficient operation. These costs include severance payments and other termination-related expenses. We anticipate that these restructuring efforts will lead to future cost savings and improved operational efficiency,” said Group Chairman, Mr Pearson Gowero, in the financial results for the six months ended June 30, 2025.
On the balance sheet, NMB’s total assets closed at ZWG7,8 billion, representing a six percent increase from ZWG7,4 billion as at December 31, 2024.
This growth was largely driven by an increase in customer deposits.
Loans and advances rose to ZWG3,4 billion, up from ZWG2,9 billion at year-end, supported by the deployment of foreign lines of credit to exporting firms.
Mr Gowero noted that the Group continues to uphold strong risk management practices, with its credit portfolio remaining sustainable.
Liquidity levels consistently exceeded the statutory minimum of 30 percent, while the banking subsidiary maintained a capital adequacy ratio of 24,99 percent — more than double the regulatory minimum of 12 percent.
“Our capital remains robust, anchored on USD-denominated assets. The banking subsidiary remains adequately capitalised to cover all risks and is compliant with the minimum capital requirement of US$30 million,” he said.
Looking ahead, NMB will continue to invest in technology, people and processes to enhance resilience and adaptability in a rapidly evolving financial landscape.
“We will continue to invest in our people, processes and technology to strengthen our resilience and adaptability in an ever-changing financial environment. Cybersecurity will remain a top priority, and we will reinforce our defences to safeguard our customers’ assets and data. The Group has fully embraced AI and is working to integrate it into as many key processes as possible, without compromising customer centricity.”
With the economy projected to rebound by six percent in 2025 — driven by mining, agriculture and strengthening commodity prices — NMB says it is well-positioned to leverage its digital transformation and fundraising capabilities for sustainable growth.
Meanwhile, the bank reported that its business banking franchise continued to perform strongly, with steady growth in customer numbers and increased penetration in key sectors such as mining, agriculture, tourism and manufacturing.
It also noted that utilisation of foreign credit lines has grown steadily, supporting clients’ long-term financing needs.
“We are in the process of drawing down on a US$50 million line of credit, which was concluded during the period under review. Except for a few companies in distress and under management, asset quality remains strong, supported by disciplined credit practices and proactive risk management,” the bank said.
Under its microfinance division, the bank continues to expand support to micro, small and medium enterprises (MSMEs), as well as nano and micro businesses, which remain the backbone of the informal sector.
Economic pressures and constrained household incomes have been identified as key risks to this segment, and the division continues to uphold prudent credit risk management practices, it added.
