CBZ Holdings recorded a 20 percent decline in profit after tax to ZWG691.64 million for the six months ended June 30, 2026, despite growth in assets, customer deposits and loans.
The financial services group reported profit after tax of ZWG691.64 million, down from ZWG868.14 million recorded during the same period last year.
Basic earnings per share also fell to 222.37 ZWG cents from 279.10 ZWG cents in the first half of 2025.
However, the group’s total income remained broadly stable at ZWG2.86 billion, compared with ZWG2.85 billion recorded in the prior year.
Non-interest income contributed ZWG1.89 billion, while net interest income stood at ZWG957.98 million.
CBZ said its diversified business model, covering banking, insurance, asset management and agribusiness, remained a key strength.
“CBZ Holdings significantly outperformed both the ZSE and VFEX benchmark indices, with the share price appreciating by 133.2% year-to-date,” management said.
The group also recorded growth in its balance sheet, with total assets increasing to ZWG46.21 billion from ZWG41.15 billion at the end of December 2025.
Customer deposits rose to ZWG32.20 billion from ZWG27.76 billion, while loans and advances to customers increased to ZWG11.87 billion from ZWG10.19 billion.
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Total equity attributable to shareholders increased to ZWG9.97 billion from ZWG9.14 billion.
Cash and cash equivalents also increased significantly to ZWG13 billion, compared with ZWG9.59 billion at the end of June 2025.
The group generated ZWG2.57 billion in net cash from operating activities, although this was slightly lower than the ZWG2.73 billion recorded in the same period last year.
CBZ said it remained focused on strengthening its relationship with customers and improving its digital services.
“The strategic focus will remain on deepening customer relationships through customer-centric solutions, accelerating digital transformation, enhancing operational efficiency, and maintaining prudent risk management to deliver sustainable long-term value,” management said.
The group expects the operating environment to remain broadly stable during the second half of the year, supported by contained inflation and exchange rate stability.
However, CBZ warned of risks from global economic weakness, geopolitical tensions, climate change and regulatory changes.
The group said a possible El Niño event during the 2026/27 agricultural season could affect agricultural production, export earnings and economic activity, with potential implications for its agribusiness portfolio.
CBZ also said measures introduced by the Reserve Bank of Zimbabwe, including reductions in selected banking charges, had put pressure on non-interest income across the banking sector.
Meanwhile, the board has proposed an interim dividend of US$3 million, equivalent to US0.48 cents per share.
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