BancABC happy with performance in tough environment

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By Zimbabwe Investor on March 27, 2013. No Comments

BancABC branch on Samora Machel Avenue, Harare, Zimbabwe.

BancABC branch on Samora Machel Avenue, Harare, Zimbabwe.

HARARE (Zimbabwe Investor) – Pan-African bank BancABC’s holding company ABC Holdings Limited says it is satisfied with the growth of its retail business despite a challenging global economic environment after reporting a 97% increase on pre-tax profit for the year ended 31 December 2012.

The increase in profits was attributed mainly to operations in Zimbabwe, Zambia and Botswana on the back of increased consumer loans. The bank increased its branch network from 49 to 61 as its balance sheet increased 46% to BWP9.2 billion.

The group says risk management will become their main area of focus going forward having identified credit, liquidity and operational risks as requiring close management.

ABC Holdings which has a primary listing in Botswana operates in Mozambique, Tanzania, Botswana, Zambia and Zimbabwe where it is listed on the Zimbabwe Stock Exchange.

Read the full ABC Holdings Limited financial report for year ending December 2012 here