The operating environment remained challenging for the group, magnified by the resurgence of the COVID-19 pandemic. Successive episodes of lockdown measures coupled with reduced trading hours crippled the Group’s capacity to aggressively grow revenue lines across business segments. Nevertheless, the Dutch foreign currency auction system which was introduced by the government ameliorated the trading environment as this resulted in relative price and exchange rate stability. In historical terms, net interest income for the Group registered an uptick of 316.16% y/y from ZWL$301.07mn in 1H20 to ZWL$1.25bn in the period under review buoyed by a 12% growth in loans and advances. The Group reduced its minimum lending rate during the period under review to assist customers cope with the Covid-19 induced...
