ZB BANK Limited has raised US$30 million in lines of credit in the first half of 2025 and is eyeing an additional US$30 million before year-end, as it ramps up funding for trade finance, mortgages and property development.
Chief executive officer Elisha Chibvuri said the funding was sourced from regional and international financial institutions, including the African Export-Import Bank (Afreximbank) and the Trade and Development Bank (TDB).
“We have been looking at local, international and regional lines of credit,” Chibvuri said in an interview, outlining the bank's strategy.
“This year, by the half-year, we have managed to secure around US$30 million. Our target for the second half is to secure an additional US$30 million.”
He said the initiative was directly driven by customer demand.
“We are in discussions with various institutions and are aligning this with customer demand for funding in trade, housing, your mortgages and property development. We will continue to pursue these areas,” Chibvuri said
He also urged Zimbabweans to help reposition the country as a “less risky destination for capital” in the eyes of global lenders, saying high perceived country risk continued to drive up borrowing costs.
“The biggest challenge for any financial institution in Zimbabwe at the moment is the high cost of these lines of credit, which is largely due to the perceived country risk,” Chibvuri said.
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“It is incumbent upon every one of us in Zimbabwe to ensure that when we market the country, we are seen in the eyes of lenders as a less risky destination for capital.
“As ZB, we have played our part and will continue to do so going forward.”
The disclosure comes on the back of strong financial results across the ZB group.
For the half-year ended June 30, 2025, ZB Bank posted a profit after tax of ZiG346 million, up 143% from ZiG142 million in the same period last year.
The bank’s total assets rose 25%, from ZiG10,36 billion at December 31, 2024, to ZiG12,94 billion by mid-2025.
ZB Building Society also swung back to profitability, reporting a half-year profit after tax of ZiG21 million, compared to a ZiG30 million loss a year earlier.
The society attributed the turnaround to strong revenue growth and reduced foreign currency revaluation losses, with total assets up 12% to ZiG631 million.
At group level, ZB Financial Holdings delivered a robust performance, with total income surging 77% to ZiG1,908 billion.
Group CEO Shepherd Fungura said the results were driven by solid growth in both funded and non-funded income.
“This performance was driven by a significant improvement in non-funded income, mainly from commissions, fees and other income, as well as funded income,” he said.
Net interest income rose 113%, supported by increased lending during the period. Although loan impairment charges grew from ZiG7 million in 2024 to ZiG70 million in 2025, income from lending activities, net of recoveries, expanded 87% to ZiG406 million.
A standout performer was banking commissions and fees, which surged 125% to ZiG905 million, reflecting the group’s accelerated digitisation drive and the growing adoption of electronic banking channels.
Exchange rate as at June 30: US$1:ZiG26,9.
