ECOBANK Zimbabwe recorded robust growth during the half year to June 30, with total assets jumping to ZiG25,01 billion, up from ZiG17,92 billion at the close of 2024.
The Pan-African bank attributed the strong performance to solid deposit mobilisation, which saw deposits rise by nearly 45% to ZiG20,87 billion.
Management said the surge reflected improved customer confidence and a strengthened liquidity profile.
“Ecobank Zimbabwe posted a strong performance for the half-year ended 30 June 2025, reflective of prudent financial stewardship and deep market insight,” managing director Moses Kurenjekwa said in a statement attached to the bank’s report.
“Total assets stood at ZiG25,01 billion, a significant growth compared to ZiG17,92 billion same time in 2024 underscoring robust balance sheet expansion driven by solid deposit mobilisation and growth in customer trust.
“Deposits closed the half year at ZiG20,87 billion, further strengthening the bank’s liquidity profile,” he added.
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Kurenjekwa highlighted that the bank continues to benefit from a low interest expense base, supported by a strong composition of non-interest-bearing (NIB) deposits.
“The bank remains focused on cost discipline and revenue enhancement, supported by a lean operating model and ongoing improvements in asset quality,” he said.
Lending activity also grew strongly, with loans and advances rising to ZiG10,54 billion, up from ZiG6,91 billion at the end of December 2024.
The trade and services sector accounted for the bulk of the loan book at ZiG5,82 billion, followed by light and heavy industry at ZiG2,18 billion.
“The bank maintained sound capital adequacy levels to support the business milestones. Total core capital for the bank as of 30 June 2025 stood at ZiG2,60 billion,” chairperson Promise Ncube said.
On the earnings front, the bank’s total operating income nearly tripled to ZiG1,69 billion, compared to ZiG580,92 million in the prior year.
Growth was largely driven by net non-interest income, which rose to ZiG1,22 billion from ZiG517,3 million previously.
As a result, profit after tax climbed 76,17% to ZiG791,29 million.
“The bank is deliberate to grow, transform, and retain its capacity to meet customer needs and experiences within the economy,” Ncube said.
l Exchange rate was US$1:ZiG26,73 on Monday