The operating environment during the year under review was characterised by a slowdown in local GDP growth to approximately 2% and weakened capital flows. During the first half of the year, the Reserve Bank of Zimbabwe introduced a new currency, the ZiG, in a bid to foster price stability in the market. Notably, the central bank devalued the currency by 44% in 2H24 and introduced other measures such as tightening liquidity supply to curb inflationary pressures. Despite this, the bank grew its loan book by 31.4% y/y to US$113.1mn. Loans to Physical Persons constituted about 45.5% of the loan book while Agriculture and Transport and Distribution loans made about 19.6% and 9.7% of the book, respectively. Deposits from the Trade and Services sector remained the dominant segment with 35% of total deposits, similar to FY23, followed by the Light and Heavy Industry making up 22% and Physical Persons constituting 19% of the deposit base.
