CBZ Holdings Limited (CBZ.zw) share price of ZWL$135.00 marks 79.6% year-on-year growth.

Published On: June 6, 2023Company: CBZ Holdings Limited (CBZ.zw)
With the increase in downside risks, what measures will CBZ Holdings Limited take to best ensure financial security and sustainability?
To best ensure financial security and sustainability in light of increased downside risks, CBZ Holdings Limited will continue to invest in building its capacity and ability to provide solutions that meet the demands of its customers, leverage its core competencies to address social challenges in the community and maintain its market leadership position in the economy. Additionally, the Group will work to ensure alignment between its ESG initiatives and the National Financial Inclusion Strategy II launched by the Reserve Bank of Zimbabwe. With these commitments and investments, the Group should be well-equipped to handle potential risks and maintain financial security and sustainability.

Global Macroeconomic Factors

  • Most economies transitioning into a post-crisis mode due to COVID-19 subsiding from pandemic to endemic status.
  • Reopening borders and airspaces leads to recovery in global tourism, hospitality, aviation, and related sectors.
  • Increase in downside risks, including global inflation, cost of living crises, currency weaknesses, and tightening monetary and fiscal conditions.

Zimbabwean Economic Factors

  • Operating environment intermittently volatile during the second quarter of 2022.
  • Significant exchange rate and price stability achieved from the third quarter of 2022.
  • Record high Diaspora remittances of US$1.6 billion for year 2022.
  • Economy estimated to have grown by 4.0% in 2022.

Group Performance

  • Provided different solutions through banking, microfinance, insurance, wealth management, risk advisory, and property subsidiaries.
  • Enhancements to CBZ Touch mobile app.
  • Launch of Datvest Modified Consumer Staples Exchange Traded Fund “ETF”.
  • Completion of Fairview housing project.
  • Leveraged balance sheet to support new and expansion projects in mining, agriculture, and infrastructure development sectors.
  • Contributions to Makomborero Trust, Tariro Trust, Denya Primary School, Karanda Mission Hospital Surgical Outreach, and Tshovani Stadium.

Share Price Performance

  • CBZH share price increased by 79.6% from ZWL$75.20 at beginning of year to close at ZWL$135.00.
  • ZSE benchmark index rose by 80.1%.
  • CBZH ended the year with a market capitalisation of ZWL$70.6 billion.

Useful links

About CBZ Holdings Limited (CBZ.zw)

CBZ Bank Limited is a commercial bank in Zimbabwe; and licensed by the national banking regulator, the Reserve Bank of Zimbabwe. CBZ Bank was founded in 1991 when the Zimbabwe government took control of the defunct Bank of Credit and Commerce. The government assumed a 100% ownership, but this has been diluted through privatisation and its listing on the Zimbabwe Stock Exchange in 1998. CBZ Bank is now a wholly-owned subsidiary of the listed financial services group CBZ Holdings and offers the full spectrum of financial services; from retail and commercial banking to treasury services, group investment banking and asset management, short- and long-term insurance, security trading and property investments. CBZ Holdings Limited is listed on the Zimbabwe Stock Exchange

Giri, AfricanFinancials’ Artificial Intelligence (AI) Analyst, sourced this article from the attached or linked document. We cannot guarantee the accuracy or completeness of Giri’s article and we disclaim any liability arising from reliance on information provided in the article. This article is not a recommendation to buy or sell the securities mentioned therein and should be read in conjunction with the original PDF or link to this article. Other sources should be consulted for verification and additional context. Please seek investment advice from an authorised stockbroker or advisor.


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