NMB.zw | Audited results and analyst presentation for FY ended 31 Dec 15

By Published On: March 18th, 2016Categories: Corporate announcement, Earnings

The Board of Directors of NMBZ Holdings Limited announces the release of the financial results for the full year ended 31 December 2015 and the analyst presentation. Below are some excerpts from the financial report and analyst presentation:


Mr Benson Ndachena, Chief Financial Officer at the FY2015 analyst briefing

Introduction

The Group has continued to make significant progress towards attaining its short and medium term goals and recorded an attributable profit of US$5 490 068 in 2015 which was a material improvement from an attributable profit of US$1 667 247 recorded in 2014. The significant improvement in the operating results was largely underpinned by the bank’s decision to broaden its target market, stricter credit underwriting standards and concerted efforts to contain non-performing loans…

Strategic focus

In line with our mission to provide premium financial services to high networth individuals, businesses and uniquely branded technology enabled products to SMEs and the broader market segments, the Board has periodically reviewed this strategic focus in response to changes in the global, regional and local operating environments. The Board is confident that based on a number of probable scenarios considered, the Group is firmly on course to attaining its short and medium term strategic targets.

Group results

Financial performance

The profit before taxation was US$7 909 138 during the period under review and this gave rise to an attributable profit of US$5 490 068 which translates to earnings per share of 1.43 cents (2014 – 0.43 cents).

Operating expenses amounted to US$26 872 649 and these were down 4% from a prior year of US$27 984 051 as a net result of cost cutting and containment measures…

Appreciation

I would like to express my sincere gratitude and appreciation to our valued clients who have continued to support us during this transition to become a mass market bank, our shareholders and the regulatory authorities for their valuable support during the period under review. My appreciation also goes to my fellow board members, management and staff for their continued dedication and commitment which has underpinned the achievement of these results in the face of an increasingly difficult operating environment.

B A CHIKWANHA
CHAIRMAN


Related links
2015 Abridged financial results
2015 Abridged financial results presentation

NMBZ Holdings Limited (NMB.zw)

Share price: 1,700.00 ZWL cents (-300.00 | -15.00% – 10/08/22)

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