FBC Holdings makes $8.2 million profit in six months


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Listed financial services group FBC Holdings registered $8.2 million after tax profit in the half-year to June, a 21 percent increase on the prior year, spurred by higher net interest income.

John Mushayavanhu, the group’s chief executive, told analysts that the group recorded total income of $39.9 million, virtually standstill as the group recorded $40 million in the same period last year.

“Net interest income at $14.9 million contributed 37 percent to total income. This was however 11 percent below the same period last year,” he said.

Fees and commission contributed 31 percent to total income with no real growth due to a downward revision in fees as the group moved towards e-channel transactions, which are high in volume

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.