Stanbic Bank Zimbabwe has posted a remarkable profit after tax of ZWL 682.2 million for the half-year ended 30 June 2025, signaling strong growth and resilience amid a challenging economic environment. The figure represents a significant leap from the ZWL 27.1 million recorded in the same period last year, underscoring the bank’s effective business strategies and robust operational performance.
The solid results were driven by substantial growth in both net interest income and non-funded income, reflecting the bank’s diverse revenue streams and strategic positioning within the Zimbabwean financial sector.
Chairman Muchakanakirwa Mkanganwi highlighted that the first-half performance was achieved despite demanding market conditions. “We are pleased to report a profit after tax of ZWL 682.2 million, a testament to the resilience of our business model and the unwavering dedication of our management and staff,” Mkanganwi said.
He noted that the bank’s capital position remains strong, with qualifying core capital of ZWL 4.2 billion, well above the regulatory minimum of around ZWL 800 million. “This growth was supported by a recovery in key sectors of the economy, including mining and agriculture, where we continue to play a pivotal role through strategic partnerships with our clients,” Mkanganwi added.
Customer deposits at Stanbic Bank rose by 37 percent to ZWL 22.2 billion, reflecting an expansion in the customer base, support from external financiers, and the impact of foreign currency deposits. This growth has strengthened the bank’s liquidity position and provided additional capacity for lending and investment.
Net interest income also saw a significant boost, rising to ZWL 840.4 million. This growth was supported by an expansion of the lending book to ZWL 10.0 billion from ZWL 8.4 billion in December 2024, with a substantial portion of loans denominated in foreign currency, enhancing revenue stability in a fluctuating local currency environment.
Chief Executive Officer Solomon Nyanhongo praised the team for delivering these results despite prevailing market liquidity constraints. “We ended the period with a stronger balance sheet and continued to invest in digital innovations, such as our new IPAY platform for foreign payments and deposit-taking ATMs, to enhance customer experience,” he said.
Nyanhongo emphasised that client-centricity remains at the heart of the bank’s operations. “Our focus is on supporting key sectors vital to Zimbabwe’s economic growth, maintaining high standards of governance and risk management, and continuously improving the services we offer our clients,” he noted.
He also expressed appreciation to the bank’s clients and stakeholders for their loyalty and support, stating, “My heartfelt gratitude goes to our clients and stakeholders whose unwavering support continues to fuel the Bank’s success. Zimbabwe is our home, and we remain committed to driving her success.”
Stanbic Bank Zimbabwe Reports Impressive Half-Year Profit of ZWL 682.2 Million
Beyond financial performance, Stanbic Bank Zimbabwe has reinforced its commitment to sustainable development through initiatives in health, education, and women’s empowerment. These programmes aim to create lasting social impact while contributing to the country’s development agenda.
The bank’s strong capital base and robust risk management framework position it well to navigate future economic challenges and continue generating growth for stakeholders. Stanbic Bank Zimbabwe Limited, a member of the Standard Bank Group—the largest banking group in Africa by assets—offers a full suite of financial services, including corporate and investment banking, personal and private banking, as well as business and commercial banking.
As Zimbabwe’s economic landscape continues to evolve, Stanbic Bank Zimbabwe’s performance highlights the institution’s resilience and adaptability. The bank’s strategic focus on key economic sectors, digital innovation, and client service excellence underscores its role as a major driver of growth within the financial sector.
With these strong half-year results, Stanbic Bank Zimbabwe not only affirms its position as a leading financial institution but also sends a clear signal of confidence in the country’s economic potential, demonstrating that even in a challenging environment, disciplined strategy, strong governance, and committed teams can deliver sustainable growth and value to all stakeholders.
Source- Bulawayo24
