HARARE – The People’s Own Savings Bank (POSB) has declared a record US$5.14 million dividend for the 2026 financial year, more than tripling the US$1.52 million distributed in 2025, as the state-owned lender reported robust financial performance driven by its transformation programme, balance sheet growth and strategic funding support.
The record payout marks a significant milestone in POSB’s turnaround, with dividends increasing from just US$216,334 in 2022 to US$5.14 million in 2026, underscoring the bank’s improving profitability and strengthening capital position.
The performance reflects the success of the bank’s ongoing Transformation Strategic Plan, which management says has reshaped operations, strengthened lending capacity and accelerated digital banking modernisation.
By 30 June 2026, POSB’s loan book had expanded to US$54.3 million, while customer deposits reached US$99.4 million, highlighting growing confidence among depositors and increased demand for credit across key sectors of the economy.
The bank’s growth has also been supported by significant funding injections aimed at expanding lending and supporting productive sectors. During the period, POSB secured US$5 million in capital support from shareholder Mutapa Investment Fund, a further US$10 million financing facility from Afreximbank, and a US$22.5 million agricultural mechanisation facility under the Belarus Government cooperation programme.
These funding facilities are expected to strengthen the bank’s capacity to finance agriculture, infrastructure and broader economic development initiatives while supporting Zimbabwe’s industrialisation agenda.
POSB also reported substantial progress in implementing its Transformation Strategic Plan, with execution reaching 83.5% by mid-year. A central component of the programme is the rollout of a new core banking system, which is expected to be fully implemented by December 2026.
The technology upgrade is designed to modernise banking operations, improve customer experience, enhance digital service delivery and strengthen operational efficiency as the bank positions itself for long-term growth in an increasingly competitive financial services sector.
The strong financial performance signals continued momentum in POSB’s turnaround strategy, with higher profitability, expanding deposits and improved access to development finance positioning the institution to play a larger role in supporting Zimbabwe’s financial inclusion and economic development objectives.
