ZB Half-Year Profit Surges 123% on Strong Income G...

ZB Half-Year Profit Surges 123% on Strong Income Growth

By Nyashadzashe Ndoro

ZB Financial Holdings Limited (ZBFH) posted a profit after tax of ZWG 428 million for the half year ended 30 June 2025, more than doubling the ZWG 192 million recorded during the same period in 2024, driven by a sharp rise in income across its banking and insurance operations.

According to the Group’s unaudited financial statements, total income grew by 77% to ZWG 1.9 trillion, compared to ZWG 1.07 trillion in the first half of 2024. Net interest income rose 113% to ZWG 477 million, supported by loan disbursements, while commissions and fees more than doubled to ZWG 905 million on the back of increased electronic transactions.

The Group’s insurance revenue also recorded significant growth, climbing 119% to ZWG 423 million, largely supported by funeral products, business acquisitions and higher portfolio participation. This turnaround helped the insurance service result swing to a surplus of ZWG 66 million, from a ZWG 85 million deficit in the prior year.

Total assets rose 23% to ZWG 17.67 trillion, up from ZWG 14.38 trillion at year-end 2024, while deposits increased 14% to ZWG 6.26 trillion, driven by growth in US dollar deposits across sectors. ZBFH maintained a liquidity ratio above 40%, higher than the regulatory minimum of 30%.

Operating costs increased by 80% to ZWG 1.37 trillion, reflecting inflationary pressures and restructuring costs, but the Group said it expects savings from automation and staff rationalisation.

In its outlook, ZBFH noted that Zimbabwe’s economy is projected to grow by 6% in 2025, supported by agriculture and mining, while tighter monetary policy continues to stabilise the local currency. The Group also highlighted its ongoing digitisation drive, which includes the rollout of a new core banking system and digital platforms such as Smile Cash, which has surpassed one million subscribers.

No dividend was declared for the period.