ZB Financial Holdings reported a profit after tax of ZiG420 million for the first nine months ended September 30, 2026 down 31 percent from ZiG610 million recorded in the same period in 2025, according to its latest trading update.
Despite the lower bottom-line earnings, sustainable profit — which strips out volatile exchange gains and fair value adjustments — surged from ZiG40 million in 2025 to ZiG215 million as the group increased its reliance on core revenue streams.
The trading update highlights a resilient domestic macroeconomic landscape underpinned by Zimbabwe’s gold-backed currency system, which sustained single-digit annual inflation through the third quarter.
Exchange rates remained tight, with the Zimbabwe Gold depreciating marginally by 0,4 percent from US$1 to ZiG26 7965 by the end of September.
Against this stable backdrop and rising foreign exchange reserves — which reached about US$2 billion — the Reserve Bank of Zimbabwe reduced its policy rate by 7,5 percentage points to 27,5 percent.
ZBFH capitalised on the broader economic stability to expand its balance sheet.
Total assets climbed 28 percent to ZiG20,53 billion as of September 30, 2026, compared to ZiG16,08 billion at the close of December 2025.
Growth was heavily driven by a 78 percent expansion in mortgages and other advances to ZiG5,52 billion, and a 47 percent increase in cash and short-term funds to ZiG5,93 billion.
Customer confidence also drove expansion, with deposits and other accounts surging 52 percent to ZiG9,96 billion.
On the revenue front, net income from lending activities ticked down slightly to ZiG617,8 million from ZiG638 million in 2025, though management expects lending volumes to rebound in the final quarter.
Non-funded income remained steady, with commissions and fees holding flat at ZiG1,4 billion, while net insurance and assurance income jumped 16 percent to ZiG133,8 billion.
Rigorous cost containment reduced operating expenses slightly to ZiG2,07 billion.
ZBFH declared no dividend for the third quarter.
Looking ahead, the group aims to leverage an optimistic economic outlook — anchored by a projected 2026 gross domestic product of US$65,92 billion and a surging manufacturing sector — to bolster asset quality and expand its core revenue pipelines through the end of the fiscal year.-herald
