CBZ Holdings delivered a strong performance for the year ended 31 December 2025, supported by improved profitability, strengthened governance, and strategic expansion into regional markets, while maintaining robust capital and liquidity positions.
The company enhanced its governance framework during the year with the rollout of an Environmental and Social Management System to improve identification, assessment, and management of environmental and social risks across lending and investment activities.
CBZ Bank was awarded Best Overall ESG Bank at the 2025 Banks & Banking Survey Awards, recognizing its ESG performance and leadership. The company also continued community initiatives, including support for the Operation of Hope Foundation’s cleft lip and palate surgeries, underscoring its commitment to inclusive development.
The company reaffirmed its commitment to high corporate governance standards. During Q2 2025, two independent non-executive directors were appointed: Mr. Pfungwa Gore Serima on 22 April and Mr. Takudzwa Donald Mudzengerere on 6 May. Both bring expertise in financial and risk management, investments, business modelling, and digital transformation to strengthen strategic oversight.
Despite tight liquidity conditions and ongoing policy interventions, CBZ Holdings reported strong financial results for FY2025. Total income increased by 39.4% to ZWG5.73 billion from ZWG4.11 billion in the prior year, driven by growth in both funded and non-funded income.
Net interest income rose to ZWG1.89 billion from ZWG1.38 billion, supported by loan book growth and improved asset yields. Non-funded income remained the largest contributor, increasing to ZWG3.86 billion from ZWG2.77 billion, reflecting higher transaction volumes across digital platforms and expansion of fee-based income.
Profit after tax closed at ZWG1.44 billion, up from ZWG168.05 million in 2024. Asset quality improved significantly, with the Expected Credit Loss expense falling to ZWG20.97 million from ZWG800.65 million, reflecting stronger credit risk management.
Total assets increased to ZWG41.15 billion from ZWG34.42 billion. Loans and advances grew to ZWG10.19 billion, while customer deposits rose to ZWG27.76 billion from ZWG21.59 billion, demonstrating sustained client confidence. The Group maintained strong capital and liquidity positions throughout the year.
Group Chairman Mr. L. Zembe said the Group continues to leverage its governance framework, digital capabilities, and financial resilience to scale operations while managing risk. Regional diversification is a key initiative aimed at expanding revenue streams and strengthening the footprint across key markets through partnerships, targeted investments, and replication of proven models in high-potential jurisdictions.
Looking ahead, the domestic economy is projected to grow by 5.0%, supported by strong agricultural output, currency and price stability, and steady mineral prices. The Group will focus on capital strength, funding optimization, and business agility to support sustainable growth.
Group Chief Executive Officer Lawrence Nyazema described 2025 as a year of disciplined execution amid a complex global and domestic environment.
Systems stability improved 59%, supported by cloud migration. The operating model was optimized for efficiency and resilience. Growth in bancassurance and insurance distribution, commodity trading and Agri-value chain participation through Agro-Yield, and digital commerce via the Ziki Mall platform.
Strong client growth across insurance and life businesses, with expanded distribution channels and partnerships.
Business Segment Performance
Banking: Remained the core earnings driver with strong balance sheet growth and improved asset quality. Maintained market leadership in digital payments and POS transactions despite tight monetary conditions.
Insurance: Delivered a turnaround following restructuring and recapitalization. General Insurance recorded double-digit policy volume growth, while the life business saw policy uptake rise by over 170%. The cluster expanded its physical presence and diversified its portfolio.
Investments: Delivered steady performance. Key initiatives included establishing a Rwanda equity fund, completing flagship property developments, and optimizing property and asset management. Funds under management increased 11% to US$356.80 million and property rental yields improved to 8.8%.
Agro-Business: Transitioning to an integrated Agri-value chain platform. Commodity trading and logistics now contribute meaningfully to revenue. The cluster mobilized US$130 million in credit lines and established a joint venture with ATDC, while expanding agricultural support and mechanisation programmes.
Microfinance: Repositioned its portfolio to reduce concentration risk. The loan book expanded 21.9%. While the non-performing loan ratio increased moderately, this reflects restructuring toward a more balanced model.
A capital-light regional expansion model advanced with the establishment of a General Insurance presence in South Africa and Risk Advisory in Botswana. Regionalisation remains a strategic imperative given limited domestic financial depth.
The Group launched “The CBZ Way” to embed a unified culture and advanced renewable energy initiatives. Sustainability efforts focus on economic development, financial inclusion, and responsible business practices.
The company proposed a final dividend of US$10,000,000, or US 1.61 cents per share. With an interim dividend of US$2,500,000 already paid, the total annual dividend is US$12,500,000, equivalent to US 2.01 cents per share.
For 2026, strategic priorities include deepening digital and fintech capabilities, scaling the financial ecosystem, accelerating regional expansion, and strengthening subsidiary capitalisation. The Group is targeting double-digit growth in revenue, profitability, and assets while maintaining strong liquidity and capital buffers.
CBZ Holdings has emerged stronger and better positioned for scalable growth, with a diversified model and disciplined strategy execution providing a foundation for long-term value creation.
