The operating environment proved challenging as Covid-19 remained a key impediment to the smooth flow of business operations on a global scale. Core operating income from interest payments for the Group grew 556% y/y to ZWL$839mn driven by an uptick in loans and advances to non-banking entities. Whilst the bank maintained strict credit underwriting standards and aggressive collections, NPL’s rose from 0.44% to 0.63% for the 6 months to June 2021. Loan to deposit ratio remained flat y/y at 67% with net interest income subsequently registering a 717% growth y/y from ZWL$106.72mn to ZWL$875.85mn, outperforming 106.6% annual inflation. The bank continued ...
