Business Reporter
NMBZ Holdings reported a 56 percent surge in operating income to US$71,6 million for the first nine months ended 30 September 2026, up from US$45,8 million a year earlier, the bank financial services group said in its latest trading update.
A 98 percent jump in net interest income to US$32,7 million, driven by strong lending activity, combined with a 33 percent rise in non-interest income to US$38,9 million, drove the growth.
A comparatively stable domestic macroeconomic environment anchored performance through the third quarter.
Single-digit inflation had been sustained from January through July 2026, aided by prudent monetary conditions and relative exchange-rate stability.
The average annual inflation rate was 3,7 percent for the first nine months of the year, while the policy rate was reduced to 30 percent in June and further lowered to 27,5 percent effective September 28 as inflationary pressures moderated.
Domestic activity continued to find support from recovering agriculture, resilient mining output and firm commodity prices, particularly gold.
The group’s balance sheet reflected substantial expansion as total assets closed at US$515,3 million as of September 30, 2026, compared to US$340,6 million at the close of December 2025.
Net loans and advances grew significantly to US$277,1 million from US$155,6 million, while customer deposits increased to US$169,7 million from US$129,7 million, bringing total funding to US$381,6 million.
Shareholder funds also strengthened, rising to US$95,9 million from US$84,2 million.
Corporate developments during the period included embedding EFC Zambia into the group’s regional operating model.
Having completed its first 100-day integration programme, EFC Zambia was migrated onto the group’s technology platform to position the business for enhanced digital channels and a scalable SME-focused proposition.
NMB Bank also secured a US$20 million facility from British International Investment during the quarter to support increased participation in agriculture and other strategic value chains.
Meanwhile, XPlug Solutions continued its regional technology expansion and NMB Properties progressed residential-stand servicing in Bulawayo.
Looking ahead, NMBZ remains adequately capitalised with strong liquidity buffers, and the board is satisfied that the group and its subsidiaries will continue as going concerns.
Management expects a positive domestic outlook for the remainder of 2026, supported by real GDP growth projections of about 5 percent, alongside World Bank forecasts anticipating continued single-digit local-currency inflation.
