Online Reporter
Business Writer
STANBIC Bank Zimbabwe has reported a profit after tax of ZWG858,4 million for the half-year ended June 2026, representing a 26 percent increase from ZWG682,2 million recorded during the corresponding period last year.
In a statement accompanying the financial results, Stanbic Bank Zimbabwe chairman Mr Muchakanakirwa Mkanganwi said the improved performance was largely driven by strong growth in net interest income, although gains were partially offset by a decline in fee and commission income following the downward review of bank charges and transaction fees in line with a Reserve Bank of Zimbabwe directive issued in March 2026.
“The Bank ended the six months period with qualifying core capital of ZWG4,5 billion (2025: ZWG4,3 billion) which is equivalent to US$168,7 million against the regulatory minimum in the local currency equivalent of US$30 million,” he said.
“The board and management continue to monitor the environment, implementing the necessary measures in preserving the Bank’s capital,” said Mr Mkanganwi.
Stanbic Bank chief executive officer Mr Solomon Nyanhongo said earnings growth was primarily driven by a 33 percent increase in net interest income to ZWG1,1 billion, coupled with lower operating expenses, despite the decline in non-funded income.
Mr Nyanhongo said the growth in net interest income was underpinned by a strong expansion in interest-earning assets.
He said net loans and advances to customers increased by 16 percent, rising from ZWG13,2 billion as at December 31, 2025, to ZWG15,3 billion as at June 30, 2026, supported by new lending assets written during the period.
“The bank’s financial investments ended the period at ZWG1,1 billion, representing a 22 percent growth from ZWG865 million in the prior period. The Bank’s non-funded income had declined by 12 percent from ZWG1,5 billion in the comparative period to ZWG1,3 billion as at the end of June 2026,” he said.
Mr Nyanhongo said the decline in non-funded income followed the implementation of the regulatory directive on bank charges and transaction fees with effect from April 1, 2026, which resulted in lower fee and commission income.
He said lower tobacco selling prices during the period had also negatively affected the bank’s fee and commission income.
Mr Nyanhongo said Stanbic’s total operating expenses fell by 13,6 percent, from ZWG1,3 billion in the comparative period to ZWG1,1 billion for the six months ended June 30, 2026, mainly due to continued cost optimisation measures and operational efficiencies.
Stanbic’s customer deposits grew by 35 percent to ZWG28,2 billion as at June 30, 2026, from ZWG20,9 billion at the end of December 2025.
Mr Nyanhongo noted that Zimbabwe’s operating environment during the first half of 2026 was characterised by continued macro-economic stability, supported by low inflation, exchange rate stability and disciplined monetary policy implementation.
He said during the first six months of 2026, Stanbic Bank Zimbabwe continued to demonstrate its commitment to inclusive growth and sustainable development through corporate social investment (CSI) initiatives focused on health, education and environmental sustainability.
Education remains a key pillar of the bank’s CSI programme, with initiatives including a bursary scheme and partnerships with Chinhoyi University of Technology and the National University of Science and Technology.
Mr Nyanhongo applauded the commitment and work ethic of Stanbic employees, saying the institution’s purpose of driving Zimbabwe’s growth was anchored on its people. He said during a period marked by market transformation and economic growth, the bank’s employees remained the driving force behind its resilience and consistent performance.
Mr Nyanhongo also emphasised that the bank remained firmly committed to its customers, noting that they are at the centre of its strategy, with products, partnerships and initiatives designed to support their growth and success.
