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Zimbabwe banking sector remains profitable

The Reserve Bank of Zimbabwe (RBZ) says the banking sector remains profitable, largely driven by non-interest income and resilience attributable to strong risk management practices, capital and liquidity positions. According to the RBZ quarterly banking sector report for the period to September 30, 2023, the sector’s aggregate profit for the quarter under review was $4,67…

Mbca bankReserve bank

Zimbabwean banks making killing from charges, making up over 84% of their profit

Zimbabwe’s banks are making a killing from charges levied from their customers with over 84% of their profits coming from charges, Deputy Minister of Finance Clemence Chiduwa told Parliament. He said the government had engaged the banks and their association and they said the main reason was that most of their solutions were imported. “We…

Clemence chiduwaMbca bankDeputy ministerFinance clemence chiduwaSpeaker sirStanding orders

Bank interest lures more deposits - The Zimbabwe Mail

Bank interest lures more deposits - The Zimbabwe Mail
thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.

Mashonaland eastRalph watungwaMbca bankBankers association of zimbabweReserve bank

Zimbabwe s active bank accounts surpass 8 million – The Zimbabwe Mail

HARARE – Zimbabwe’s financial inclusion strategy is yielding positive results on the back of an improvement in the number of active bank accounts. The financial inclusion strategy introduced five years ago is aimed at ensuring all Zimbabweans have access to bank accounts. The latest data from the central bank indicates that as of December last year active bank accounts had reached 8 million from 1, 4 million in 2016. The majority of new accounts are youths, women, and the rural folk although urban areas still dominate. The central bank attributes the improvement to low-cost bank accounts and increased awareness campaigns. However, market watchers say the success of the financial inclusion strategy will also depend on the bank’s ability to offer low charges and better returns.

Mashonaland eastMbca bankமஷோனலண்ட் கிழக்கும்பிகா வங்கி

Zimbabwean Banks Shut 17% of Branches as Virus Drives Digitization

HARARE (Bloomberg) Zimbabwean banks have closed about 17% of their branches as an escalation in the number of coronavirus infections spurs lenders to shut their doors for the time being and accelerate a digitization drive. Of the 300 branches in the country, 10% were permanently closed last year due to the digitization push. An additional 23 branches are now temporarily under lock and key in response to a strict 30-day lockdown that started on Jan. 5, the Zimbabwe Bankers’ Allied Workers Union said. “There is a high possibility that some may never be re-opened in the foreseeable future,” Shepherd Ngandu, the assistant secretary-general of the union, said by text message.

Mashonaland eastRalph watungwaZimbabwe healthMbca bankBanker association of zimbabweZimbabwe banker allied workers unionZimbabwe association of doctorsZimbabwe associationHealth minister denies hospitals overwhelmedBanker associationமஷோனலண்ட் கிழக்குஸிஂபாப்வே ஆரோக்கியம்ம்பிகா வங்கிவங்கியாளர் சங்கம் ஆஃப் ஸிஂபாப்வேஸிஂபாப்வே வங்கியாளர் கூட்டணி தொழிலாளர்கள் தொழிற்சங்கம்ஸிஂபாப்வே சங்கம் ஆஃப் மருத்துவர்கள்