Old Mutual profit tanks, declares dividend
By ETimes Old Mutual reported sharply lower profit last year as it grappled with the difficult macro-economic environment and market volatility but managed to declare a dividend in the process.…
Nedbank Zimbabwe’s ROE more than doubled in FY2022
By ETimes Nedbank Zimbabwe says its return on equity more than doubled in 2022, contributing significantly to the group’s “quite a good set of results”. The uncertainty in the domestic…
Dr Mangudya defends his press release
By ETimes Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mangudya has alluded that his institution was attacked and had to put the record straight on allegations posed in an…
Liquidity crunch drags down Willdale sales volumes in Q1
By ETimes Brick maker Willdale says volume sales declined 2% in the first quarter to December weighed down by slowing demand. Low product uptake, brought on by a lack of…
GetBucks mulls a ZSE delisting
By ETimes GetBucks Financial Services which currently in negotiations for a US$5 million recapitalisation to enable the bank to meet required minimum threshold set by the Reserve Bank of Zimbabwe…
Banks’ capital adequacy ratio hits 35,45%
By ETimes Reserve Bank of Zimbabwe (RBZ) quarterly banking sector report for the third quarter of 2022 has revealed that the country’s banks have high capitalisation thresholds, sound asset quality,…
MFIs’ net profit rose to $9.7bn in Q3
By ETimes The number of registered microfinance institutions (MFIs) in Zimbabwe rose to 196 during the third quarter ended 30 September 2022 from 176 in the comparative period against a…
Demand for USD loans likely to remain high – IH
By ETimes ADVISORY firm IH Securities says the Reserve Bank of Zimbabwe’s repricing of interest rates on current loans will push banks to generate significantly more interest income in FY22.…
Gold coins mopped up $13.6bn since July: RBZ
By ETimes Gold coins have mopped up $13.6 billion from the market since their introduction in July this year, the latest data shows. The country took the unprecedented step of…
FCB expects downside risk on credit performance amid tight monetary regime
By ETimes First Capital Bank Zimbabwe says the liquidity crisis and high interest rates may pose a risk to credit performance. In September 2022, the Reserve Bank of Zimbabwe decided to…