Home Business First Capital Bank Operating Income Surges By $1.4 Billion

First Capital Bank Operating Income Surges By $1.4 Billion

First Capital Bank Manager Locks Self In Office As Workers Strike

First Capital Bank Operating Income Surges By $1.4 Billion

Leading financial services provider, First Capital Bank (FCB) has seen operating income surging by $1.4 billion on the back of increased loans and transactional income.

The bank’s company secretary, Sarudzayi Binha said sound financial strides were made during the second and third quarters period. Presenting a trading update covering the second and third quarters, Binha said:

The Bank’s year to date inflation-adjusted operating income increased by $1.4 billion from the second quarter to $3.7 billion in the third quarter whilst in historical terms, the increase was $1.4 billion to $3.6 billion.

In inflation-adjusted terms, year to date operating expenses increased by $1billion to $2.6 billion while in historic cost terms, the increase was $692 million to $1.9 billion.

Year to date operating profit excluding investment property gains and tax increased by $814 million to $1.5 billion in inflation-adjusted terms whilst in historic cost it increased by $674 million to $1.6 billion.

During the period, profit after tax was $393 million and $1.3 billion in historical terms.

The growth was attributed to both increase in loans and transaction income realised during the reporting period.

Customer deposits grew by $2.8 billion to $12.6 billion driven by growth from local and foreign currency depositors with foreign currency constituting 46 % of the total deposits.

Loans grew by $1.3 billion to $6.1 billion and the loans book continued to perform well with non-performing loans at 0.19 % of the loan book.

In other news,

“Prophet” T Freddy Fined 3 Goats Over Affair With ZBC Presenter

Allegations are that sometime in 2020 Freddy (38) had a relationship with Makuti.

Prophet T Freddy Dresses As A Woman

During the relationship, it is alleged that she started threatening to expose their affair if he does not meet her financial and material demands.

Prosecutors told the court that sometime in August 2021, Freddy was summoned by Chief Chikwaka and proceeded to the…Learn More

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.