Zanaco Plc FY 2022 earnings increased to US$65m from US$59m year prior

Published On: March 23, 2023By Tags: Southern-Africa

Zanaco Plc, FY 2022 earnings increased to US$65 million from US$59 million year prior.


  • H2 2022 earnings of US$44 million were higher than the US$42 million recorded in H2 2021.
  • Net interest margin/total assets decreased to 8.3% from 9.7%, while loans were up by 26% to US$667 million.
  • Non-performing loans > 90 days declined from 16% in 2021 to 9% in 2022.
  • 2022 earnings by segment were as follows:
    • Retail banking profit increased to US$14 million.
    • Treasury recorded a pre-tax profit of US$31 million.
    • Corporate banking profit decreased by 5% to US$58 million.
    • Digital banking had a US$5 million loss.
  • Cost/Income ratio marginally improved to 51% from 53% year prior.

Investor Issues

  • A high Return on Equity of 41%
  • An undemanding Price to Earnings ratio of 3.8 times

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About the Author: Hartland-Peel Africa Equity Research

Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.