ZB posts growth in assets amid headwinds

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ZB FINANCIAL Holdings (ZB) reported total assets of ZWG9,143 billion for the half year period to June 30, 2024 which was a marginal four percent increase from prior year’s ZWG8,772 billion as the group withstood macro-economic headwinds.

Using official data from Reserve Bank of Zimbabwe’s mid-term monetary policy statement, which reported total banking sector assets at ZWG77,55 billion as at June 30,2024, ZB assets constituted 11,8 percent, reflecting the group’s growing significance in the local banking sector.
The asset growth achieved in the face of economic headwinds, underscores the group’s strong financial foundation and effective asset management strategies.
Investment property and retained earnings largely drove the group’s assets to ensure that the group had positive net equity of ZWG5,07 billion, which was 29 percent above previous year’s ZWG3,94 billion.