NMB.zw | HY2018 financial results

By Published On: August 30th, 2018Categories: Corporate announcement, Earnings

CHAIRMAN’S STATEMENT

INTRODUCTION

The operating environment in 2018 continued to be challenging largely due to nostro funding challenges, cash shortages, job losses and inflationary pressures. The period under review was characterised by the build-up to the country’s harmonised elections held on 30 July 2018…

GROUP RESULTS

Financial performance
The profit before taxation was US$11 757 594 during the period under review and this gave rise to total comprehensive income of US$9 086 483. The Group achieved an earnings per share of 2.34 cents (2017 – 0.93 cents)…

DIVIDEND

The Board has resolved not to declare an interim dividend in order to fund the growth initiatives being pursued by the Group as well as to strengthen the regulatory capital position of the Group’s banking subsidiary…

DIRECTORATE

There were no changes to the directorate during the period under review. The directors of both NMBZ Holdings Limited and NMB Bank Limited boards remain as follows: Mr Benedict A. Chikwanha (Board Chairman), Mr Benefit P. Washaya (Chief Executive Officer), Mr Benson Ndachena (Chief Finance Officer), Mr Charles Chikaura (Independent Non-Executive Director), Mr Erik Sandersen (Non-Executive Director), Mr James de la Fargue (Non-Executive Director), Ms Jean Maguranyanga (Independent Non-Executive Director), Mr Julius Tichelaar (Non-Executive Director) and Ms Sabinah Chitehwe (Independent Non-Executive Director).

OUTLOOK AND STRATEGY

The Bank will continue to accelerate the deployment of POS machines throughout the country and enhance all the e-channels for the convenience of our transacting customers. The Group will continue to broaden its target market by widening its catchment area to include segments of the mass market previously not catered for, thereby contributing to the financial inclusion agenda.

APPRECIATION

I remain sincerely grateful to our valued clients, depositors, shareholders and regulatory authorities who have continued to render their unwavering support to the Group. To my fellow board members, management and staff, I extend my heartfelt gratitude for their diligence, dedication and steadfast commitment which have culminated in the Group’s remarkable results.

B. A. CHIKWANHA
CHAIRMAN


Related download
NMB.zw | 2018 Interim financial results

NMBZ Holdings Limited (NMB.zw)

Share price: 1,700.00 ZWL cents (0.00 | 0.00% – 15/08/22)

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