Africa-Press – Zimbabwe. AFRICAN Banking Corporation of Zimbabwe Limited (BancABC) has seen a significant turnaround in its half-year financial results for the period ended June 30, 2025, posting a profit-after-tax (PAT) of ZiG146,6 million.
This marks a remarkable recovery from a loss of ZiG331,7 million in the same period last year.
BancABC interim independent non-executive chairperson Nhena Nyangura attributed the good performance to strategic execution and strong growth across the bank’s core revenue streams.
“We are pleased to report a profit after tax of ZiG146,6 million for the half-year, a significant turnaround from the loss after tax recorded in the corresponding period last year,” Nyangura said.
“This result was driven by strong performance across our core revenue lines.”
The bank’s growth was underpinned by a significant increase in digital transaction volumes, reflecting sustained investment in technology and robust foreign exchange trading income supported by increased client flows.
Net interest income, after expected credit losses, rose to ZiG162,82 million from ZiG41,67 million in the prior-year period, while loans and advances grew 26% to ZiG1,8 billion.
Total assets increased by 11% to ZiG5,9 billion, demonstrating continued client confidence and the bank’s expanding market presence.
The bank maintained a disciplined loan-to-deposit ratio of 53%, reinforcing liquidity buffers and strategic flexibility.
The performance was further strengthened by enhancement of BancABC’s digital platforms.
Internet banking now features bulk payments, Zimbabwe Revenue Authority Tax and Revenue Management System submissions and online telegraphic transfer submissions.
The A360 mobile banking platform includes an online loan application and improvements to the BancABC Visa Mobile App allow customers to view and transfer balances effortlessly.
These enhancements have enabled more flexible customer service and expanded product offerings to meet evolving customer needs.
In support of financial inclusion, BancABC expanded its kiosk footprint to 49 locations, with new branches in Mbare and Shurugwi.
The managing director extended gratitude to the board, shareholders, partners and staff for their contribution to the strong performance.
The group also implemented a key structural change by transitioning its functional currency from the Zimdollar to the United States dollar, effective January 1, 2025, in line with Zimbabwe’s multi-currency regulatory framework under Statutory Instrument 218 of 2023.
In governance, effective June 13, 2025, Albert Rufaro Katsande, Eve Christine Gadzikwa and Claire Aufre’re retired from the board.
They were succeeded by Fayaz King, Andrew Paul Lane-Mitchell, Patience Manyara Shuro and Manyara Mercy Chigunduru, whose collective expertise in digital innovation, international markets, financial management and technology will guide the group’s next phase of growth.
Looking ahead, BancABC managing director Tawanda Munaiwa expressed cautious optimism.
“As we look ahead to the second half of 2025, we do so with confidence, mindful of economic headwinds, yet encouraged by the strength of our strategy and execution,” he said.
“We will continue to focus on providing solutions that address customer needs in a seamless and efficient manner.”
BancABC’s performance underscores the resilience of its business model, supported by strategic growth initiatives, sound governance, and a commitment to customer-centric innovation.
The bank thanked its customers, regulators and partners for their continued trust and partnership.
For More News And Analysis About Zimbabwe Follow Africa-Press
