First Capital Bank bolsters business financing as deposits hit US$249m

Business Reporter

FIRST Capital Bank Zimbabwe has bolstered its capacity to finance businesses after customer deposits rose 24 percent to US$249 million in the six months to June, strengthening the bank’s funding base amid growing demand for financial services.

The growth in deposits enabled the bank to expand loans and advances by 28 percent to US$165 million between December 2025 and June 30, 2026, with funding directed towards productive sectors of the economy.

Profit after tax also increased 26 percent to US$16,7 million during the period, reflecting improved performance as the bank continued to grow its balance sheet and deepen relationships with customers.

First Capital Bank chief executive officer Mr Tapera Mushoriwa said the increase in deposits demonstrated growing confidence in the institution while creating greater scope to channel funds towards economic activity.

“For us, deposit growth is ultimately about what it enables us to do. When more customers choose to place their money with First Capital Bank, it increases our capacity to put that money back to work by supporting businesses, facilitating trade and financing productive activity,” Mr Mushoriwa said.

During the first half of the year, the bank deployed funding across agriculture, mining and services, providing working capital, trade finance, lending and transaction banking solutions.

The increase in deposits was attributed largely to the mining, agriculture and services sectors, reflecting both the acquisition of new customers and deeper relationships with existing clients.