Highveld makes $774 million profit in nine months


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Highveld Financial Services, a new entrant into the volatile financial services sector, made a net profit of $774.4 million in its first nine months of operation.

The discount house, which began operating in April, realised interest income of $6.4 billion but net interest income was down to $1.7 billion.

Dealing brought in a further $548 million but operating profit only rose to $1.5 billion after operating expenses of $301.8 million and fair value adjustment of $420.7 million.

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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.

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