Stanbic Bank Zimbabwe records ZWG858m in H1 2026

Stanbic Bank Zimbabwe recorded a 26% increase in profit after tax to ZWG858.4 million ( $32 million) for the six months ended June 30, 2026, up from ZWG682.2 million ($25 million) reported in the corresponding period of 2025.

The strong performance was driven largely by a significant increase in net interest income, supported by growth in interest-earning assets and lending, although the gains were partly moderated by lower fee and commission income following regulatory changes to banking charges.

According to the bank’s Chief Executive, Solomon Nyanhongo, net interest income rose by 33% to ZWG1.1 billion during the period, reflecting stronger growth in the bank’s lending portfolio.

Net loans and advances to customers increased by 16%, from ZWG13.2 billion at the end of December 2025 to ZWG15.3 billion by June 30, 2026. Financial investments also grew by 22% to ZWG1.1 billion from ZWG865 million recorded at the end of the previous year.

The growth in interest income, combined with a reduction in operating expenses, helped offset pressure on the bank’s non-funded income.

Non-funded income declined by 12% from ZWG1.5 billion in the comparative period to ZWG1.3 billion. The reduction followed the implementation of the Reserve Bank of Zimbabwe’s directive on bank charges and transaction fees, which took effect on April 1, 2026.

Lower tobacco selling prices also negatively affected fee and commission income. However, the bank said healthy transaction volumes and its diversified product portfolio continued to provide support.

Deposits Rise 35%

Stanbic Bank’s customer deposits expanded significantly during the period, rising by 35% from ZWG20.9 billion at the end of December 2025 to ZWG28.2 billion by June 30, 2026.

The bank attributed the growth to deeper customer relationships, expansion of its transactional banking franchise and increased funding from retail and corporate customers.

Operating expenses, meanwhile, fell by 13.6% from ZWG1.3 billion to ZWG1.1 billion, reflecting continued efforts to improve operational efficiency and optimise costs.

Expected credit loss allowances increased from ZWG43 million to ZWG71 million, primarily due to new lending assets originated during the period and increased utilisation of secured offshore credit lines.

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Capital Position Strengthens

Stanbic Bank Zimbabwe ended the first half of 2026 with qualifying core capital of ZWG4.5 billion, compared with ZWG4.3 billion in 2025.

The capital position was equivalent to approximately US$168.7 million, significantly above the regulatory minimum of US$30 million.

Nyanhongo said the bank’s board and management would continue monitoring the economic environment and implementing measures to preserve its capital strength.

The bank also paid a ZWG510 million dividend during the period from profits generated in the year ended December 31, 2025.

Macroeconomic Stability Supports Banking Sector

Stanbic Bank said Zimbabwe’s operating environment during the first half of 2026 was characterised by relatively stable macroeconomic conditions, supported by low inflation, exchange-rate stability and disciplined monetary policy.

Annual ZWG inflation remained below 5% during the period, while foreign-currency inflows remained strong, supported by mining, agriculture and diaspora remittances.

The bank said the inflows helped strengthen foreign-exchange reserves, improve market liquidity and boost business and investor confidence.

However, it warned that the stability achieved remained vulnerable to fiscal slippages, external shocks and climate-related challenges, particularly drought.

Stanbic Expands Social Impact

Beyond its financial performance, Stanbic Bank Zimbabwe continued to invest in health, education and environmental sustainability through its corporate social investment programmes.

The bank supported the Albino Charity Organisation of Zimbabwe and Friends of Albinism Collective during Albinism Awareness Day and provided assistance to 170 cancer patients through the Cancer Association of Zimbabwe.

At Mater Dei Hospital, the bank financed the installation of eight neonatal incubators and monitors valued at US$60,000 to strengthen maternal and child healthcare.

It also supported the development of a new facility room at Rainbow Children’s Village for vulnerable children undergoing or awaiting cancer treatment.

In education, five students from Midlands State University joined the Stanbic Bursary Programme, while partnerships with Chinhoyi University of Technology and the National University of Science and Technology are expected to bring five students from each institution into the programme from August 2026.

The bank also backed environmental initiatives including the Matopos Challenge and the Pristine Victoria Falls Society, alongside wider tree-planting, reforestation and climate-action programmes.

Digital Banking and SME Support

Stanbic Bank continued to expand its digital and customer-focused services during the period.

The bank introduced the “My Business Protector” bancassurance product in partnership with Zimnat to provide tailored protection for small and medium-sized businesses.

It also rolled out new point-of-sale devices with full Visa acceptance and enhanced its electronic banking platforms with services including prepaid utilities and airtime purchases.

The bank expanded its ATM network, including deposit-taking capabilities, while increasing the availability of agency banking services.

Its digital ecosystem was further strengthened through the expansion of StanPay and improvements to IPAY, aimed at increasing payment efficiency and enhancing customer experience.

Focus on Skills and Organisational Capacity

Nyanhongo said the bank’s workforce remained central to its performance, particularly amid Zimbabwe’s changing economic and financial landscape.

Stanbic continued investing in leadership development, cross-functional exposure and recruitment in critical areas while strengthening capabilities in digital literacy, sustainability and stakeholder engagement.

The bank said these initiatives had contributed to improved digital solutions, stronger client experiences and greater collaboration across its business units.

Stanbic Bank Zimbabwe said it would maintain its focus on innovation, operational efficiency, customer service and sustainable growth during the second half of 2026.

The bank reaffirmed its corporate purpose — “Zimbabwe is our home, we drive her growth” — as it seeks to combine financial performance with broader economic and social impact.