Intermarket Building Society had an excellent year following its rebranding from Founders Building Society and recorded a net profit growth of 458 percent.
According to its results for the year ending June, profit attributable to shareholders increased from $335.6 million to $1.9 billion. Interest income rose from $2.1 billion to $7.8 billion.
The society says total assets grew by $33 billion to a new record of $46.6 billion. The growth was mainly due to increases in liquid assets with investments and cash increasing from $9.7 billion to $32.1 billion.
Mortgage advances more than doubled from $1.8 billion to $4.1 billion. Some 1495 applicants benefitted.
The society says the mortgage advances were complimented by the launch of Intermarket Global Access in the United Kingdom.
This allows Zimbabweans living abroad to access its products through contacts at home.
The society also refurbished its Harare First Street, Kadoma, Chitungwiza and Avondale branches and is now upgrading automatic teller machines.
(17 VIEWS)
The gazetting into law of the payment of quarterly taxes on a 50-50 basis in…
Zimbabwe has today unveiled a ZiG276.4 billion budget for 2025 during which it expects the…
Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…
The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…
An Indian think tank has described Starlink, a satellite internet service provider which recently entered…
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…