Inflation restrains FBC mortgage lending

FBC Holdings (FBCH) says it has had to throttle lending at its building society to defend its balance sheet.
This comes as high inflation in Zimbabwe over the past four years has tested banks’ willingness to lend.
“The period under review was characterised by high inflation, volatile foreign exchange rates and speculative trading, presenting major challenges to business across all sectors,” FBCH’s chief executive, John Mushayavanhu, said in a statement accompanying the group’s financials.