Zimbabwe: Stanbic Profits Up 15 Percent

STANBIC Bank Zimbabwe (Stanbic) registered a 15% profit growth to US$23,9 million in 2015 compared to the same period in the prior year despite the tough economic environment.

In a statement attached to the bank's financial results for the year ending December 2015, Stanbic chairman Sternford Moyo said the bank -- whose parent company is South Africa's Standard Bank Group which operates around the world, including 17 countries in Africa -- had managed to register a profit in an adverse economic environment characterised by a debilitating liquidity squeeze, company closures and job losses.

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