CBZ posts ZWG1.1 billion profit after tax

DIVERSIFIED Financial Services Conglomerate, CBZ Holdings Limited, has posted ZWG1,1 billion Profit After Tax (PAT) in the just-ended quarterly reporting period amid sound management practices poised to spur higher growth in the coming months.

Presenting a Trading Update for the period ended September 30, 2026 this week, CBZ Group Chief Legal Counsel and Governance Officer, Rumbidzai Jakanani, said financial performance during the period was supported by growth in lending and non-funded income, alongside increased customer deposits and contributions from its diversified businesses.

“For the period under review, the group recorded a profit after tax of ZWG 1.12 billion, on a total income of ZWG 4.60 billion. In US$ terms, profit after tax increased by 3.2%, ahead of the 0.9% growth in ZWG, with the difference reflecting the 2.2% appreciation of the average ZWG exchange rate against the US$ (2026: ZWG 26.10; 2025: ZWG 26.69),” she said.

Jakanani said management continued to prioritize revenue diversification while maintaining strong capital and liquidity positions to support targeted growth.

Growth in loans and advances supported a 3.5% year-on-year increase in funded income to ZWG 1.52 billion, while non-funded income increased by 11.0% to ZWG 3.06 billion from ZWG 2.75 billion in the prior year. Total income also includes the net insurance service result of ZWG 27.2 million (2025: ZWG 13.6 million).

Commission and fee income continued to face pressure from regulatory fee caps, reinforcing the Group’s focus on expanding funded income and developing alternative revenue streams to support sustainable earnings growth.

Jakanani said the domestic operating environment remained comparatively stable during the third quarter, with lower inflation and relative exchange-rate stability providing greater predictability for business activity.

Annual ZiG inflation averaged 3.3% during the third quarter, compared with 4.6% in the second quarter, while annual USD inflation averaged 3.2%; foreign currency inflows increased by 34% to US$15.9 billion during the nine months to September 2026, while reported reserves stood at US$2.0 billion, equivalent to approximately two months of import cover.

“The outlook for the remainder of 2026 will depend on the continuation of domestic inflation and exchange-rate stability, alongside developments in global financial and commodity markets. Market development and increasing market share will remain key priorities of the Group’s business strategy. Cost containment and digital transformation will be central to improving operating efficiency,” Jakanani added.

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