FBC H1 after tax profit up 13 percent to $9,3mln

HARARE, – FBC Holdings on Thursday reported 13 percent increase in after tax profit to $9,3 million in the six months to June, driven by a 36 percent growth in net interest income.

Net interest income at $22,5 million contributed 48 percent to the group’s total income.

The group recorded total income of $46,6 million, registering a 17 percent increase on the $39,9 million achieved in the same period last year.

“The growth in net interest income was mainly driven by an improvement in the cost of funding, overall growth in interest earning assets and the reclassification of suspended interest income to earned interest income, following the performance of some material non-performing loans,” said chairman Herbert Nkala in a statement accompanying the unaudited results Thursday.

Net fee and commission income grew 16 percent to $12, 5 million from $10, 8 million, as a result of increased volumes of electronic transactions but its contribution to total income remained flat at 27 percent.

The insurance business registered a 6 percent decline in revenue, though net earned insurance premium was flat.

Basic Earnings Per (EPS) rose 15 percent to 1.41 cents per share and the board proposed an interim dividend of 0,22 cents per.

Share this:

Arts & Entertainment

Arts & Entertainment

Damian Marley’s deep love for Africa

24th May 2017 Staff Reporter 0

Damian Marley’s 2010 collaboration album with Nas, Distant Relatives is littered with references to Africa’s rich cultural background. During the recording of the album Marley and Nas dug through archives of African music in search […]

Arts & Entertainment

James Bond’s Roger Moore dies at 89

23rd May 2017 Staff Reporter 0

James Bond actor Roger Moore has died, aged 89. His family confirmed the news via his Twitter account, issuing a statement that explained the British star had passed away in Switzerland following a “short but […]

2 Trackbacks & Pingbacks

  1. Zimbabwe bankers divided over bond notes - Zimbabwe Consolidated News
  2. UK says it cannot interfere with Zimbabwe’s decision to introduce bond notes – 263AfricaNews

Leave a Reply

Your email address will not be published.


*