Metbank In $8.1 Million Half Year Profit

Metbank has reported a profit of ZWL $8.1 million in the 6 months ended 30 June 2019.

In its financial statements for the period, the bank’s chairman, Darlick Marandure said:

The bank reported a profit after tax of ZWL $8.1 million for the half year period, this being significanlty better performance to the results from previous financial years.

The bank also realised reasonable growth in loans and deposits compared to the previous periods. The bank’s statregy is seeing the unfolding of a solid balance sheet from whic sustainable profits will follow.

The bank is is still on course to achieve the regulatory minimum capital of $100 million by the year 2020, in line with its five-year capitalisation plan. As of 30 June 2019, the bank’s capital was at $67 million…

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The bank continues to pursue its five-year startegic plan through focusing on financing property developments, mortgage financing and the traditional commercial banking.