Zimbabwe: ZB Bank Pushes for Customer Centric Approach, Revenue Hits ZW$917 Billion

7 September 2023

Leading financial services provider, ZB Bank has vowed to press ahead with the customer centric approach on the back of recording a ZW$ 917 billion during the year's first half period.

Presenting the group's performance for the period ended June 30 2023 CEO Shepherd Fundira said all the branch networks have since been re-purposed to efficiently serve the customers.

"A new customer-centric business model and organisational design has been adopted, underpinned by digital capacity building. In 2022, 25 bank branches were re-purposed into Group-wide customer service centers serving not just banking, but the whole bouquet of banking, insurance and investments services under the #OneZB concept," he said.

He said as at 30 June 2023, a further 10 customer service centres had been launched, with the remaining 10 being on course for finalisation in the second half of 2023.

Dedicated Premium Service Centres have been established in Harare and Bulawayo, whilst all the other Service Centres across the country also have functionality to offer Premium Service at a limited scale.

In its medium-term plan for 2021-2025, the Group embedded long term sustainability of operations as a key theme underpinning its strategy.

This entails striking a balance between the welfare of the People it serves, the preservation and promotion of the Environment in which it operates for current and future generations, and the quest for Profit and sustained growth.

The Group is one of 14 financial institutions in Zimbabwe working on attaining certification under the Sustainability Standards Certification Initiative (SSCI) by the European Organisation for Sustainable Development (EOSD), under guidance from the Reserve Bank of Zimbabwe.

For the half year to 30 June 2023, the Group recorded a 796% rise in total income from ZW$102.407bn for the comparable period in 2022, to ZW$917.284bn. The income performance was mainly on the back of a 3022% rise in fair value adjustments.

The Group's performance was also enhanced by a 726% rise in share of associate companies' profit net of tax, from ZW$2.409bn in 2022 to ZW$19.883bn in 2023. During the review period, the group continued to increase its shareholding in an associate.

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