Africa-Press – Zimbabwe. FIRST Capital Bank Zimbabwe has posted a 128% increase in profit after tax to ZiG353,7 million in its half-year performance ended June 30, 2025, driven by a growth in net income, which more than doubled in the period under review.
In the comparable period last year, the bank recorded a profit after tax of ZiG155,45 million.
During the period under review, total net income closed the half year at ZiG1,09 billion from ZiG488,61 million recorded in the comparable period last year.
This was driven by net interest income, which rose to ZiG503,66 million over the half-year period, from the 2024 comparative of over ZiG194 million.
“In this evolving environment, First Capital Bank demonstrated resilience and agility, delivering a strong performance – while maintaining a clear strategic focus,” chairperson Patrick Devenish said in a statement accompanying the bank’s half-year financial results.
“Net profit grew by 128% to ZiG354 million compared to June 2024, capital adequacy remained well above regulatory requirements, and operational efficiency improved.”
During the period under review, the bank’s loan portfolio expanded to ZiG3,21 billion, with strong support for the agriculture, manufacturing, services and tourism sectors.
The bank disbursed ZiG56,6 million in environmental, social, and governance-linked lending targeting women, youth and underserved communities.
An additional ZiG129,3 million supported solar, borehole and climate-smart agriculture projects.
The bank also invested in youth sports development, improved healthcare access and financial literacy programmes, positively impacting over 20 500 young people.
Customer deposits grew 10% to ZiG5,05 billion from the end of last year.
This performance strengthened the bank’s balance sheet, with total assets increasing to ZiG8,27 billion from ZiG7,63 billion at the end of 2024.
Devenish said the performance reflected sustained market confidence in the Victoria Stock Exchange-listed firm’s brand and value proposition.
Operating expenses grew to ZiG528,49 million during the period, a nearly 97% increase owing mostly to staff costs.
“In the second half of 2025, our focus will remain on scaling market presence, investing in digital innovation and talent, and reinforcing governance and risk management frameworks. The goal remains clear, to deliver sustainable value to our stakeholders through disciplined growth and customer-centric innovation,” chief executive officer Tapera Mushoriwa said.
“I thank our customers, employees, partners, regulators, and the board for their unwavering trust and support. At First Capital Bank, belief comes first, and it continues to shape the way we build a stronger, more inclusive future.”
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