Stanbic Bank Zimbabwe Posts Strong 2024 Profits

 

 

Zim Now Reporter

Stanbic Bank Zimbabwe made a big profit of ZWG 1.1 billion in 2024, thanks to higher interest income and smart currency moves. The bank’s CEO, Solomon Nyanhongo, said customer deposits grew by 119%, and lending increased despite falling interest rates.  

A dividend of ZWG 516 million was paid to shareholders, showing strong financial health.

Zimbabwean banks have been performing well, partly due to high service fees. However, rising costs and currency instability remain challenges.  

Stanbic also helped communities by funding health projects, including sterilizing equipment for hospitals and surgeries for children. The bank remains confident despite risks like power shortages and low crop yields in 2025.