ZANACO releases 2018 interim results

September 28, 2018|

In compliance with the requirements of the Securities Act No.41 of 2016 of the Laws of Zambia and Listings Requirements of the Lusaka Securities Exchange, the Directors of Zanaco are pleased to announce the unaudited results for the period ended 30 June 2018.

Financial Highlights

– Non-funded income (NFI) has grown by 24% Year-on-Year due to strong commission and foreign exchange income largely linked to the growth in the customer deposit base, i.e. deposits have grown 17% Year-on-Year, and transaction activity has in turn increased; consequently, NFI has contributed 41% to total income compared to 33% in the prior year…

Capital

During the period up to 30th June 2018, the Bank remained well capitalized above the minimum required ratio of 10%.

Future Outlook

The Bank remains cognizant of apparent economic challenges, as well as significant market opportunities, and will therefore continue to cautiously pursue a customer centric strategy which delivers value to investors and other stakeholders alike.

BY ORDER OF THE BOARD
Issued in Lusaka, Zambia on Friday, 28th September, 2018


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ZANACO | 2018 Interim financial results

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Latest news and corporate announcements from Zambia National Commercial Bank Plc (ZANACO.zm).

Zambia National Commercial Bank, commonly known as Zanaco, listed on the Lusaka Securities Exchange, serves retail customers, large corporations, agri-business and public sector clients. With the aid of Rabobank, a Dutch multinational banking and financial services company, providing management services and technical assistance, Zanaco is now one of the most solidly capitalised banks in Zambia.

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