19 January 2018
   
ED and Zambia’s Lungu in ‘open talks’
African leaders wait for an apology from Trump
ED Shocker: Mugabe, 93, forgot he fired me
UK-ZIM: Mnangagwa exploits Brexit chance
MDC-T devastated by Bennet’s death
30 ZRP bosses fired, CIO spies too
Parliament: 11 G40 ministers, MPs fired
MDC-T’s Gutu scoffs at party HQ ban
MORE NEWS
SOE DEBATE: Privatise most parastatals
‘Mobile money tax will get dodger vendors’
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Tendai Ndoro special - says Ajax coach
Zim cricket official charged with fraud
MORE SPORTS
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Barclays Zim profit doubles to $6,6mln, targets cash generating state enterprises
31/03/2015 00:00:00
by The Source
 
 
RELATED STORIES

BARCLAYS Bank Zimbabwe’s after tax profit for the full year to December doubled to $6,6 million from  on improved interest income despite recording a 17 percent fall in deposits.

Net interest income was 15 percent up at $14,1million while gross loans and advances were six percent up at $124,5million.

Customer deposits fell to $206,4million compared to $248million in the prior period.

Managing director George Guvamatanga told analysts on Monday that the bank would in the future seek to widen its customer base to include cash generating state owned enterprises and government institutions.

“One of our strategies will be to target some government and quasi-government departments. While their balance sheets might be weak you will see that their cash generating capacity is quite high so we will be tailoring our products in line with their demands,” he said.

Cash generated during the period under review totaled $7,9 million from $6,7 million recorded in the previous year

“We believe there is still much we can do to address cost base in relation to lower margins,” said Guvamatanga indicating that the bank would invest in its technology infrastructure to enhance its e-Banking facility.

Operating expenses shot up 11 percent to $37,5million. Earnings per share (EPS) doubled to $0,31 cents from $0,14 cents.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker