ZDB makes a five-fold increase in profit


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ZDB Financial Services now seems to be out of the doldrums. After recording paltry profits of under $30 million for two consecutive years, the institution last year recorded a five-fold increase of $156.9 million, up from $26.4 million the previous year.

Interest and other income increased from $59.1 million to $608.9 million with fees and commission income shooting from $8.1 million to $65.5 million.

Operating income increased from $54.3 million to $297.9 million.

Its balance sheet also increased almost ten-fold from, $257.2 million to $2.5 billion.

The institution says the current initiatives by business, labour and the government should enable the country to recover.

It is also confident that the current problems the country is facing are temporary.

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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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