First Capital Bank Zimbabwe posts 22% Profit surge to ZWG431.8m in H1 2026

First Capital Bank Zimbabwe has reported a 22 percent increase in profit after tax to ZWG431.8 million ($16.11million ) for the six months ended June 30, 2026, as macroeconomic stability and growth in key productive sectors supported its financial performance.

The bank said Zimbabwe’s economy remained on a path of macroeconomic stabilisation during the first half of the year, supported by sustained single-digit inflation, exchange-rate stability, growth in mining and agriculture, and continued infrastructure investment.

According to Chairman Patrick Devenish, the improved economic environment provided a more predictable operating landscape and enabled the bank to deliver strong financial results through disciplined execution of its growth strategy.

The bank maintained a strong capital position, with its Capital Adequacy Ratio standing at 27 percent, significantly above the regulatory minimum of 12 percent.

Devenish said the strong capital position provides the bank with a solid foundation to support future expansion while protecting the interests of customers, depositors and shareholders.

In line with its earnings performance and capital position, the bank’s Board declared an interim dividend of 0.31 US cents per share, reinforcing its commitment to sustainable shareholder returns.

Balance Sheet Expands

First Capital Bank’s Chief Executive Officer, Tapera Mushoriwa, said the bank’s total assets increased to ZWG10.4 billion during the period, driven partly by a 28 percent rise in customer deposits to ZWG6.7 billion.

The growth in deposits, he said, reflected continued customer confidence in the bank and its financial solutions.

The bank’s loan book also expanded to ZWG4.4 billion, with lending directed towards key segments of the economy, including mining, agriculture, manufacturing, services, tourism and households.

The expansion of the balance sheet contributed to an 11 percent increase in net interest income, supported by growth in earning assets and higher transaction volumes, alongside a reduction in bank charges.

Mushoriwa added that the bank maintained a prudent approach to risk management and responsible lending, with expected credit loss coverage improving to 2 percent.

Digital Innovation Drives Customer Experience

The CEO said First Capital Bank continued to invest in digital capabilities, process optimisation and service delivery as part of efforts to improve customer experience and operational efficiency.

The investments have also helped expand accessibility across the bank’s digital and traditional banking platforms, while supporting customer growth across its retail, small and medium-sized enterprise (SME) and corporate segments.

Mushoriwa said the bank would continue deepening customer relationships and developing financial solutions tailored to evolving market needs as it seeks to unlock new revenue opportunities.

Governance and Sustainability

The bank also recorded changes to its Board during the reporting period.

Independent Non-Executive Directors Tembiwe Moyo and Sara Moyo retired after completing their maximum terms of office.

To strengthen the independence and governance structure of the Board, Nomusa Dube was appointed as an Independent Non-Executive Director in May 2026.

The bank subsequently appointed Innocent Chagonda as an Independent Non-Executive Director, effective August 2026.

Beyond financial performance, First Capital Bank said sustainability remains central to its long-term growth strategy, with initiatives during the period focused on financial inclusion, youth empowerment and community development.

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The bank participated in financial literacy initiatives led by the Reserve Bank of Zimbabwe, supported education programmes in underserved communities through donations and backed youth development through sports sponsorship initiatives.

Positive Outlook for Second Half

First Capital Bank said it remains positive about Zimbabwe’s economic outlook for the remainder of 2026, despite global economic headwinds and climate-related risks.

The bank expects economic activity to continue receiving support from mining, agricultural value chains, tourism and infrastructure investment.

Mushoriwa said the bank is positioned to sustain its growth momentum, supported by a growing customer base, strong balance sheet, resilient capital position and experienced workforce.

He said the bank’s priorities for the remainder of the year would include disciplined balance-sheet growth, digital innovation, customer-focused service delivery and prudent risk management.