STANBIC Bank Zimbabwe posted a strong set of results for the half-year to June 30, 2026, with profit after tax rising 26% to ZiG858,4 million from ZiG682,2 million in the comparative period.
In a statement accompanying the results, Stanbic Bank chairman Muchakanakirwa Mkanganwi said the improved performance was largely driven by growth in net interest income, which was partly offset by lower fee and commission income.
“The Bank ended the six months period with qualifying core capital of ZiG4,5 billion which is equivalent to US$168,7 million against the regulatory minimum in the local currency equivalent of US$30 million,” Mkanganwi said.
“The Board and management continue to monitor the environment, implementing the necessary measures in preserving the Bank’s capital.”
Stanbic Bank chief executive Solomon Nyanhongo said the growth was primarily driven by a 33% increase in net interest income to ZiG1,1 billion, combined with a reduction in operating expenses, although this was partly offset by lower non-funded income.
The increase in net interest income was largely underpinned by strong growth in interest-earning assets.
Net loans and advances to customers increased 16% from ZiG13,2 billion as at December 31, 2025 to ZiG15,3 billion at June 30, 2026, supported by new lending during the period.
“The Bank’s financial investments ended the period at ZiG1,1 billion, representing a 22% growth from ZiG865 million in the prior period,” Nyanhongo said.
“The Bank’s non-funded income had declined by 12% from ZiG1,5 billion in the comparative period to ZiG1,3 billion as at the end of June 2026.”
He said the decline in non-funded income followed implementation of the regulatory directive on bank charges and transaction fees from April 1, 2026, which resulted in subdued fee and commission income.
Lower tobacco selling prices during the period also adversely affected fee and commission income.
Stanbic’s total operating expenses fell 13,6% from ZiG1,3 billion in the comparative period to ZiG1,1 billion, mainly due to continued cost optimisation and improved operational efficiencies.
Customer deposits increased 35% to ZiG28,2 billion.
“This strong growth reflects the Bank’s success in deepening customer relationships, expanding its transactional banking franchise and attracting quality funding from both retail and corporate customers,” Nyanhongo said.
He said Zimbabwe’s operating environment during the first half of 2026 was characterised by continued macroeconomic stability, supported by low inflation, exchange rate stability and disciplined monetary policy implementation.
During the period, Stanbic continued to pursue inclusive growth and sustainable development through Corporate Social Investment (CSI) initiatives focused on health, education and the environment.
The bank partnered with various stakeholders on community initiatives nationwide.
In the health sector, it supported the Albino Charity Organisation of Zimbabwe and the Friends of Albinism Collective in commemorating Albinism Awareness Day, promoting inclusion and raising awareness about people living with albinism.
The bank also assisted 170 cancer patients through the Cancer Association of Zimbabwe to help provide access to essential treatment and care.
Education remained a key focus of the bank’s CSI programme, with initiatives including a bursary programme and partnerships with Chinhoyi University of Technology and the National University of Science and Technology.
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