HARARE, 31 August 2026 — FBC Holdings Limited has reported a resilient first-half performance for the period ended 30 June 2026, with strong growth in revenue, a stronger balance sheet, and improved asset quality despite ongoing global and domestic economic pressures.
In unaudited condensed consolidated results released on Friday, the diversified financial services group said total income rose by 17.2% to ZWG2.15 billion, up from ZWG1.83 billion in the same period last year. The growth was driven by broad-based contributions across banking, insurance, capital markets and real estate.
The company highlighted the improving quality of its earnings, with core revenues making up 73% of total income. Core revenue includes net interest income, payments and processing, and net fee and commission income.
Net interest income increased by 7% to ZWG774.2 million, while net fee and commission income grew 12.4% to ZWG793.3 million. Dealing and investment-related income surged 75% to ZWG530 million, supported by better liquidity and stronger returns on the investment portfolio.
Notably, non-funded income exceeded funded income during the period, a strategic shift the company said strengthens earnings resilience and supports sustainable growth across economic cycles.
Profit before tax rose 23.8% to ZWG468.6 million from ZWG378.5 million in the prior period. Profit after tax stood at ZWG344.22 million. The after-tax figure was impacted by prior-period tax adjustments relating to the deductibility of interest expense on credit lines and borrowings.
FBC Holdings continued to grow its balance sheet. Total assets increased 17.5% to ZWG26.33 billion from ZWG22.42 billion at 31 December 2025. Customer deposits grew 20.4% to ZWG15.56 billion, enabling the Group to expand financial intermediation. Loans and advances were up 8.8% to ZWG11.96 billion.
Asset quality also improved. The non-performing loans ratio declined to 3.03% from 4.23% in December 2025, reflecting disciplined credit risk management. Shareholders’ equity rose to ZWG4.50 billion, further supporting the Group’s capacity to underwrite growth opportunities.
The company said Zimbabwe’s economy remained resilient, with GDP growth of 8.3% recorded in 2025 and at least 5% projected for 2026. Annual ZWG inflation stood at 4.72% as of 30 June 2026, while the exchange rate remained relatively stable at ZWG26.77 : USD1.
The banking sector was described as sound, with adequate capital and liquidity. In insurance, low penetration of about 2% of GDP presents structural growth opportunities, particularly in agricultural risk products. Capital markets activity also increased, with the Victoria Falls Stock Exchange gaining prominence alongside the ZSE.
FBC continued investing in its future capabilities. Operating expenses increased 34.1% to ZWG1.55 billion, driven by deliberate spending on technology, human capital and infrastructure.
Key milestones included the launch of the new Yo! FBC Mobile Banking App in Q2, ongoing upgrades to the Core Banking System, and investment in data centre infrastructure. The Group is also evaluating Artificial Intelligence platforms to enhance productivity and customer solutions. It further achieved ISO/IEC 27001 certification for information security and SSCI certification for sustainable banking.
The company declared an interim dividend of US0.32 cents and ZWG1.95 cents per share for the six months ended 30 June 2026. The dividend will be payable on or about 3 October 2026 to shareholders registered on 25 September 2026.
FBCH’s share price closed the half-year at ZWG9.00 per share, a 27.7% decline from the opening price, with market capitalisation at ZWG6.05 billion. The Group noted the decline reflected broader valuation adjustments across ZSE counters.
The company announced the appointment of Mrs Muchaneta Ndachena as an Independent Non-Executive Director effective 16 December 2025. Mr Webster Rusere retired from the Board on 31 May 2026.
Chairman, Herbert Nkala said the company remains confident in its outlook. “Our strategic priorities remain clear: to grow sustainable core income, strengthen our balance sheet, improve operating efficiency, diversify funding sources, maintain asset quality and invest in the technology and capabilities required to remain competitive.”
He added that FBC’s diversified model positions it well to support NDS2 and Vision 2030 objectives by deepening financial inclusion, supporting productive sectors, and mobilizing capital for growth.
