Stanbic Bank Profits Jump 26% To ZWG858 Million On Strong Lending
By Desire Tshuma
HARARE — Stanbic Bank Zimbabwe has posted an impressive set of half-year financial results, with profit after tax surging 26 percent to ZWG858.4 million for the six months ended June 30, 2026.
The figure represents a significant improvement from the ZWG682.2 million recorded during the corresponding period last year, as the financial institution benefited from increased lending, stronger interest income, growing customer deposits and a sustained focus on cost containment.
Stanbic Bank chairman Muchakanirwa Mkanganwi said the improved performance was largely underpinned by growth in net interest income, although the bank had to contend with reduced fee and commission income following the implementation of revised bank charges and transaction fees.
“The Bank ended the six months period with qualifying core capital of ZWG4.5 billion,” Mkanganwi said, noting that the figure was well above the regulatory minimum equivalent of US$30 million.
Chief executive officer Solomon Nyanhongo said net interest income increased by 33 percent to ZWG1.1 billion, driven largely by growth in interest-earning assets. Loans and advances to customers increased 16 percent from ZWG13.2 billion at the end of December 2025 to ZWG15.3 billion by June 30, 2026, reflecting increased lending activity during the period. The bank’s financial investments also rose 22 percent to ZWG1.1 billion, up from ZWG865 million in the comparative period.
However, non-funded income declined 12 percent from ZWG1.5 billion to ZWG1.3 billion, with Nyanhongo attributing the contraction partly to regulatory changes on bank charges and transaction fees that came into effect on April 1. Lower tobacco selling prices during the period also weighed on the bank’s fee and commission income.
Despite the pressure on non-funded income, Stanbic recorded a 13.6 percent reduction in total operating expenses, which fell from ZWG1.3 billion to ZWG1.1 billion. The bank attributed the reduction to continued cost optimisation and improved operational efficiencies.
Customer deposits were another major driver of the bank’s performance, increasing 35 percent to ZWG28.2 billion as at June 30, 2026, from ZWG20.9 billion at the end of December 2025. Nyanhongo said the deposit growth reflected the bank’s ability to deepen customer relationships, expand its transactional banking franchise and attract quality funding from both retail and corporate clients.
The bank also maintained its focus on corporate social investment, channelling resources towards health, education and environmental initiatives. During the period under review, Stanbic supported the Albino Charity Organisation of Zimbabwe and the Friends of Albinism Collective in raising awareness on albinism. It also assisted 170 cancer patients through the Cancer Association of Zimbabwe. Education initiatives included support for a bursary programme and partnerships with Chinhoyi University of Technology and the National University of Science and Technology.
Nyanhongo said the bank’s financial performance was a reflection of disciplined execution, adaptability and a strong focus on customers amid an evolving economic environment. He said Stanbic remained committed to ensuring that its financial performance translated into wider social impact, in line with its philosophy that “Zimbabwe is our home, we drive her growth.”
The latest results underline Stanbic’s resilience in Zimbabwe’s evolving banking landscape, with stronger lending, deposit mobilisation and cost management cushioning the impact of regulatory changes affecting fee-based income.
