CBZ injects US$100m into private sector
LIVINGSTONE MARUFU
CBZ Holdings Limited (CBZHL),a publicly traded financial services group, has disbursed US$100.12m to the private sector as part of a push to unlock working capital in a cash-strapped economy.
Speaking at the analyst briefing for the group’s half-year results to June 30, CBZHL chief executive officer Lawrence Nyazema said the lender would continue seeking additional credit lines to help companies access vital funding.
“A total of US$100.12m was disbursed to the private sector, supporting entrepreneurship, working capital needs, and SME growth,” Nyazema said.
“The group remains firmly committed to financing the productive sectors of the economy, supporting sustainable growth and development.”
He said deposits grew to US$962.76m, up 15% from 2024, largely driven by demand deposits of US$688.65m and credit lines of US$170.30m.
Nyazema noted that, despite hitting nearly US$1bn in total deposits, the majority are demand deposits that can be withdrawn at any time, requiring reliance on credit lines and time deposits for longer-term funding.
Total income reached ZWG2.85bn, including net interest income of ZWG973.10m and strong non-funded income of ZWG1.88bn. Operating expenses were contained at ZWG1.59bn, delivering a cost-to-income ratio of 55.6%.
Expected credit loss expense was low at ZWG26.66m, translating into profit after tax of ZWG868.14m, up from ZWG656.29m in the prior year.
