Loans and advances were $92.9 million, a four percent drop from 31 December 2016.
Total assets declined seven percent to $406.8 million from $439.3 million in December last year due to a 15 percent drop in deposits to $234.3 million from $275.3 million.
Cash resources dropped 31 percent to $56.9 million from $82.2 million.
Operating expenses marginally declined to $16.19 million from $16.27 million in December last year.
Mutandagayi said the bank was re-engaging its foreign correspondent banking network and it has resuscitated its Euro, British pound, South African rand and United States dollar correspondent banking accounts.
ZB will soon roll out its diaspora business strategy, targeting markets in Australia, United Kingdom, Canada and United States.
The ZB group wholly owns ZB Bank Limited, ZB Reinsurance Limited, ZB Transfer Secretaries, ZB Capital and ZB Associated Services.
It has a 75.33 percent stake in ZB Building Society and 64 percent shareholding in ZB Life Assurance. – The Source
(175 VIEWS)
