IN A dose of further good news for the economy, Zimbabwean banks have posted swashbuckling results for the period ending December 2020 —despite massive disruptions that were brought about by the first wave of Covid-19.
This is also despite a tough stay-at-home order which stretched from March 31 to October 2020 — a period that saw most of the economy remaining closed as the novel virus ravaged the world.
Banks which released their results last week showed their resilience in a year in which Zimbabwe first experienced the effects of the lethal coronavirus.
As a result the country suffered from the triple whammy of its long-standing economic crisis, the negative effects of the global coronavirus pandemic and the severe regional drought which left more than half the population facing starvation.
In its set of results, First Capital Bank (FCB) said it had managed to sustain a sound capital, liquidity position and a quality loan book for the period ended December 31, 2020.
It said the achievement was realised through the application of strategic management practices which responded to then obtaining economic dy
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