- ZB Group’s profit after tax surged 123% to ZWG 0.428 billion, driven by strong banking and insurance performance
- Digital initiatives, including Smile Cash with over 1 million users and the new core banking system Fusion Essence, boosted revenue and operational efficiency
- Regional expansion and ESG-focused strategy, including SSCI project submission and agri-business value chain focus, position the Group for sustainable growth
Harare - ZB Financial Holdings, a diversified financial arm listed on the Zimbabwe Stock Exchange (ZSE), has reported a remarkable 123% increase in profit after tax for the half-year ended 30 June 2025, rising to ZWG 0.428 billion from ZWG 0.192 billion during the same period last year according to the latest half year financial statement.
This was on the back of improved total income which was largely anchored by non funded operations like fees and commissions.
‘’The improved profitability is mainly supported by the aforementioned growth in total income,’’Group Chief Executive Officer Shepherd Fungura said in a statement accompanying the half-year financials.
Total income surged 77% to ZWG 1.908 billion, driven by strong growth in both banking and insurance operations, highlighting the Group’s strong diversification strategy.
The banking segment led the charge, with net interest income more than doubling to ZWG 0.477 billion and commissions and fees climbing 125% to ZWG 0.905 billion, largely on the back of rising electronic transactions.
This performance reflects the impact of the Group’s continued digitization drive, highlighted by the successful rollout of its new core banking system, Fusion Essence, and the launch of the Smile Cash digital payments platform, which now boasts over one million subscribers.
Insurance operations also saw significant turnaround, with revenue growing 119% to ZWG 0.423 billion.
The insurance service result swung from a deficit of ZWG 0.085 billion in H1 2024 to a positive ZWG 0.066 billion, supported by increased uptake of cash funeral products, business acquisitions, and portfolio expansions.
As a result the reinsurance posted a profit after tax of ZWG 22.7 million, recovering from a prior-year loss.
On the operational front, the Group has invested in robotics process automation to streamline internal processes and improve efficiency, with the project expected to conclude by year-end.
It also continues to pursue regional growth, having secured accreditation to write insurance business in Tanzania and actively scouting additional investment opportunities across Southern Africa.
Sustainability remains a strategic priority, ZB Group has submitted its SSCI project for EOSD review, positioning itself among a select group of Zimbabwean financial institutions leading in environmental, social, and governance (ESG) initiatives.
The Group has revised its high-impact goal to focus on stimulating the agri-business value chain, while maintaining commitments to financial inclusion and sustainable infrastructure investment.
Total assets grew 23% to ZWG 17.671 billion, while total deposits increased 14% to ZWG 6.262 billion, underpinned by stronger USD-denominated balances.
Despite higher operating costs of ZWG 1.372 billion, the Group maintained a comfortable liquidity margin above 40%, well above the prescribed ratio of 30%.
Looking ahead, ZB Group is set to launch its 2026–2030 mid-term strategy, building on its 2021–2025 foundation to further embed sustainability, digital innovation, and regional expansion, with a continued focus on creating “happy people” through customer-centric solutions.
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