FBC Holdings Limited delivered a strong performance for the nine months to 30 September 2026, trading ahead of budget on the back of growth across its core banking, insurance and investment operations.
The operating environment remained relatively stable and supportive during the period, despite a less favourable global outlook and elevated international oil prices. Zimbabwe’s economy is projected to grow by 5% in 2026, driven mainly by mining and agriculture. Macroeconomic stability was supported by single-digit annual inflation, stable exchange rates and continued strength in external sector performance. The reduction in the Bank Policy Rate to 27.5% in September, together with progress under the IMF Staff-Monitored Programme, further reinforced prospects for improved stability.
These conditions supported business development across all the group’s segments. Potential El Niño-induced drought, geopolitical conflicts and unresolved external debt arrears remain key risks, requiring close monitoring and prudent management of credit, liquidity and investment exposures. The group said it remains committed to capturing growth opportunities, strengthening operational resilience and delivering sustainable long-term value to shareholders.
Total income grew by 29.9% to ZWG3.18 billion, driven by growth in net interest income, net fee and commission income and investment income. Operating expenses increased by a lower 27.8%, which improved profitability and operational efficiency.
Profit before tax rose by 69.6% to ZWG683.1 million, from ZWG402.8 million in the prior period. Profit for the period grew by 35.5% to ZWG354.0 million, from ZWG261.38 million, reflecting sustained momentum despite prior-period tax adjustments arising from the tax authorities’ position on the deductibility of interest expense incurred on credit lines and borrowings from financial institutions in prior periods. Engagements with the authorities are still ongoing to conclude the matter.
The group maintained a strong financial position. Total assets increased by 37.6% to ZWG30.87 billion, from ZWG22.44 billion in December 2025. Customer deposits grew by 49.9% to ZWG19.39 billion, from ZWG12.94 billion, underpinning strong liquidity, while loans and advances increased by 15.2% to ZWG12.68 billion, from ZWG11.01 billion, over the same period. Shareholders’ equity rose by 8.6% to ZWG4.57 billion, reflecting continued progress in capital formation.
All regulated entities continue to comply with prescribed minimum regulatory capital requirements. The group said it continues to monitor capital adequacy across its subsidiaries to ensure sufficient buffers, support sustainable growth and maintain resilience against emerging risks.
The group’s outlook is optimistic, supported by the prevailing policy direction and anticipated economic growth across productive sectors, despite local and external risk factors. Its diversified portfolio provides a solid foundation for adapting to changing conditions and pursuing opportunities across its target markets. Key priorities include deepening customer relationships, deploying capital efficiently, advancing product development and strengthening collaboration across subsidiaries.
The group says it will continue to allocate capital to technology and digital transformation to enhance service delivery, productivity and cost management. Disciplined business underwriting will underpin sustainable profitability and long-term shareholder value.
