Time in $2 billion profit


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Time Bank had a strong performance with net profit increasing from $679.7 million to $2.1 billion last year.

Net interest income increased from $994.3 million to $2.9 billion while fees and commissions declined from $161.9 million to $147.5 million.

Other income, however, shot up from $57.4 million to $775 million and operating income increased from $1.4 billion to $3.9 billion.

The bank set aside $738 million for bad and doubtful debts, up from $82.2 million the previous year. Its asset base increased from $16 billion to $43.9 billion.

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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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