In compliance with the requirements of the Securities Act No. 41 of 2016 of the laws of Zambia and the Listing Rules of the Lusaka Securities Exchange, the Directors of Zanaco are pleased to announce the unaudited half-year interim results for the period ended 30 June 2017.
Financial Highlights
The financial performance of the Bank for the period under review shows an improvement in the profit after tax to K96.6Mn, 29% growth over 30 June 2016 profitability. The main drivers for this favorable performance were;
- Improved income from Investments.
- Overall reduction in the cost of doing business due to improved liquidity in the market;
Capital
During the period under review, the Bank remained well capitalised above the minimum required ratio of 10%. The shareholders’ funds increased by 7% compared to June 2016.
Future Outlook
As we aspire to be the number one digital and transactional Bank in Zambia by the year 2020, we continue to focus on embedding our transformation journey in 2017. Our main focus areas include the following:
- Aligning our structure and branches with our strategy.
- Aligning our processes with the adopted structure and the way we conduct our business.
- Continuously improving our customer service delivery to enrich customer experiences at all service touch points.
- Raising our operating and financial efficiency sustainably.
- Enhancing a high performance culture; aligning compensation and reward systems with the strategy and new ways of working.
BY ORDER OF THE BOARD
