First Capital Bank recorded strong financial growth in the first quarter ended March 31, 2026, with total income rising 16% to ZWG594 million and customer deposits increasing 32% to ZWG5.4 billion, reflecting sustained business momentum and growing market confidence.
In a trading update released this week, the bank said the operating environment during the period remained relatively stable, allowing businesses to plan and invest with improved certainty.
“The first quarter of 2026 was characterised by a relatively stable macroeconomic environment, supported by prudent monetary and fiscal policy measures that sustained single-digit inflation and improved market confidence,” the bank said.
Inflation closed the quarter at 4.4%, which the institution said contributed to “a progressively stable economic landscape conducive to sustainable business growth, investment confidence and financial planning.”
The bank attributed its performance largely to strong deposit mobilisation and customer activity across key sectors of the economy.
“Total income increased by 16% to ZWG594 million, supported primarily by robust deposit mobilisation, which enhanced the Bank’s capacity to grow earnings and deepen customer relationships across key economic sectors,” the bank said.
Customer deposits grew significantly during the period, highlighting continued confidence in the institution.
“Customer deposits grew by an impressive 32% year-on-year to ZWG5.4 billion, reflecting continued market confidence in the Bank’s franchise, liquidity strength and service delivery capabilities,” the statement read.
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Despite liquidity constraints across the market, lending performance remained resilient, supported by disciplined credit management.
First Capital Bank maintained capital levels well above regulatory requirements throughout the quarter.
“The Bank maintained strong prudential ratios throughout the period, remaining well above minimum regulatory thresholds prescribed by the Reserve Bank of Zimbabwe,” the bank said.
Its Capital Adequacy Ratio stood at 25.3%, compared to the regulatory minimum of 12%.
Total assets grew 29% year-on-year, supported by balance sheet expansion and prudent risk management practices.
The bank said Zimbabwe’s economic outlook remains encouraging, supported by projected GDP growth of about 5%, strong mining sector performance and favourable agricultural conditions.
“The economic outlook for Zimbabwe remains positive,” the bank said, noting that expected exchange-rate and inflation stability should support investment confidence and financial sector growth.
Management added that digital transformation, customer acquisition and operational efficiency remain central to its strategy.
“Board and Management remain confident in the Bank’s growth trajectory and its ability to continue delivering sustainable value to shareholders, customers, regulators, employees and the broader Zimbabwean economy,” the statement said.
USD-based performance indicators also strengthened, with total income reaching US$131 million, customer deposits US$2.4 billion and gross loans US$1.38 billion, while capital levels remained above the US$30 million regulatory threshold.
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