Capitalization Pays Off For Zim Banking Sector

The Zimbabwean Banking sector total assets for the year ended September 2018 has increased by US$3.29 Billion from $10.26 billion recorded during the same period last year, the Reserve Bank of Zimbabwe has revealed.

Posting on their Twitter handle, RBZ attributed the increase to adequate capitalization and improved profitability among others.

“Financial soundness indicators for the quarter ended 30 September 2018 depict satisfactory condition and performance of the banking sector characterized by an expanding asset base, adequate capitalization, improved profitability and satisfactory asset quality,” reads the tweet.

Meanwhile total bonus improved from US$3.73 billion to US$4.01 billion, Net capital base improved from US$1.43 billion to US$1.72 billion while core capital improved from US$1.25 billion to US$1.48 billion .

Total deposits for the period under review amounted to US$9.57 billion as compared to $US7.62 billion recorded last year, while net profit increased from US$160.73 million recorded last year to US$283.98 million recorded this year.

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