- Net Interest Income reached ZWG1.39 billion for the year ending 31 December 2024, up from ZWG1.21 billion in 2023
- Interest income rose to ZWG1.68 billion, an increase from ZWG1.48 billion in the previous year
- Total Income Grew to ZWG4.11 billion, leading to a profit after tax of ZWG168.05 million
Harare-CBZ Holdings, a diversified blue-chip company listed on the Zimbabwe Stock Exchange, has reported a 14% increase in net interest income, reaching ZWG1.39 billion for the full year ended 31 December 2024 up from ZWG1.21 billion in the comparative period.
This growth was driven by a rise in interest income, which climbed to ZWG1.68 billion from ZWG1.48 billion in 2023, according to the company’s latest 2024 FY financial statement.
Despite this , non-interest income remained a key pillar of CBZ’s performance, contributing ZWG2.77 billion.
However, this figure reflects a decline from the ZWG4.12 billion recorded in 2023.
As a result total income for the year grew to ZWG4.11 billion, resulting in a profit after tax of ZWG168.05 million.
Total assets closed at ZWG34.42 billion while loans and advances to customers reached ZWG8.30 billion, supported by a substantial customer deposit base of ZWG21.59 billion.
According to Reserve Bank of Zimbabwe (RBZ) data, CBZ holds the distinction of being the largest bank in the country by assets.
The company also achieved a historic milestone, becoming the first bank in Zimbabwe to surpass a loan base of ZWG8 billion while maintaining a deposit base above ZWG21 billion in a single year.
Group Chairperson Luxon Zembe attributed this strong performance to sustained growth in customer numbers, deposits, transactional activity, and the uptake of CBZ’s comprehensive product range.
“This success reflects our ability to deliver value to our customers while capitalizing on our diversified offerings,” Zembe stated.
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