Zanaco Plc Summarised Unaudited Results for the period ended 30 June 2022

By Published On: September 30th, 2022Categories: Corporate announcement, Earnings

In compliance with the requirements of the Securities Act No.41 of 2016 of the Laws of Zambia and Listings Requirements of the Lusaka Securities Exchange, the Directors of Zanaco are pleased to announce the unaudited results for the period ended 30 June 2022

Financial Highlights

The Group has continued on a strong financial trajectory with a 11% increase in total operating income from K1,752 million recorded in the prior year to K1,953 million. This performance has been fueled by the growth in investment securities income from K741 million to K950 million representing a 28% increase year on year coupled with the positive growth in fees and commission income of 21% (K57 million) year on year.

Total operating expenses increased from K1,051 million to K1,196 million representing a 14% year on year increase. The increase has been driven by the Group’s business activities aimed at supporting its 2022 strategy. While the Group is on track with its strategic implementation for the year, the Group recorded a decline in its profitability year on year of K48 million representing a 12% decline.

The performance in the year has been anchored on a resilient balance sheet with a year on year growth in total assets of 13% (K3,229 million). The growth was significantly driven by the increase in investment securities which grew by 53% from K6,952 million in the prior year to K10,608 million as at close of June 2022. Total liabilities increased by 11% (2,675 million) mainly attributable to the growth in customer deposits. Customer deposits recorded a 28% growth from K17,901 million to K22,935 million supporting the Group’s strategic intent of maintaining strong funding and liquidity base for strategic growth and to meet regulatory requirements at all times.


The Group remains adequately capitalized and continues to prudently utilize its capital to ensure maximum return on investments. As at 30 June 2022, the Group retained a strong capital ratio of 17.1%, after a dividend payout of K364 million.

Future Outlook

The Group continues to be innovative and deliberate in its strategic execution to ensure that it remains customer centric. This has been further evidenced by its commitment to ensure that the environment in which it operates is sustainable for future generations to come. It has invested and partnered with strategic players in the market to foster a green culture that responds to climate change risks.

By Order of the Board


Issued in Lusaka, Zambia on 28th September 2022

Zanaco Plc 2022 Interim financial results.pdf

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