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Steward’s interest income surges

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STEWARD Bank (Steward) is reaping rewards of revenue generated by interest-bearing assets against the cost of servicing liabilities, after its net interest income rose to $706 million for the half year to August 31, 2021, from $206 million prior year.
In a statement accompanying the bank’s financial results, chief executive Courage Mashavave said the bank’s financial performance improved during the period, leveraging on the digital thrust it has been pursuing.

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The bank saw an improvement in financial performance during the half year under review, recording inflation-adjusted net interest income of $706 million, a 243 percent increase from $206 million in prior year.

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