FIRST Capital Bank Zimbabwe (FCB) will prioritise scaling its market presence, digital innovation, and talent acquisition in the latter half of 2025, chief executive officer Tapera Mushoriwa has said, reinforcing the group’s growth strategy.
The Victoria Falls Stock Exchange-listed bank increased its total assets to US$306,9 million during the half-year period ended June 30, 2025, up from US$295,8 million in the same period last year, according to financial results released on Monday.
FCB said the growth was driven mainly by increases in loans and advances.
“In the second half of 2025, our focus will remain on scaling market presence, investing in digital innovation and talent, and reinforcing governance and risk management frameworks,” Mushoriwa said, as he shared the results with investors.
“The goal remains clear, to deliver sustainable value to our stakeholders through disciplined growth and customer-centric innovation,” he added.
Innovation is emerging as one of the most urgent focal points in Zimbabwe’s financial sector, where an aggressive artificial intelligence (AI) revolution is reshaping the way banks operate. This dovetails with national policy to expand access to financial services beyond towns and cities, targeting previously underserved segments of society.
Globally, the pace of AI-led change is also gaining traction in the banking sector. On Tuesday, leading AI expert and academic, Arthur Mutambara proposed Zimbabwe should go the extra mile by setting up a fully-fledged AI ministry to champion the transformation.
FCB’s loan portfolio showed strong support to the agricultural, manufacturing, services, and tourism sectors — key areas currently driving Zimbabwe’s economy.
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“In this evolving environment, First Capital Bank demonstrated resilience and agility, delivering a strong performance while maintaining a clear strategic focus,” FCB chairman Patrick Devenish said.
The firm’s net profit grew by 15% to US$13,27 million during the review period, while capital adequacy remained well above regulatory requirements. Operational efficiency also improved.
“Our balance sheet remains robust, with total assets increasing to US$306,9 million and customer deposits reaching US$187,4 million, reflecting sustained market confidence in our brand and value proposition,” Devenish noted.
The bank implemented several strategies to grow its deposit book by 5% from the end of 2024.
“The revision of call deposits terms has attracted both existing customers and new customers into taking up the product. Included in the total deposits are local currency deposits of US$28 million,” the bank said.
The growth in net profit was driven by a 13,14% rise in total net income to US$40,94 million during the half-year, compared to the same period in 2024.
Devenish said sustainability remained central to the bank’s strategy.
“We continue to embed environmental, social, and governance principles into how we operate, ensuring that our growth remains both responsible and inclusive,” he said.
“We are advancing green financing, financial inclusion and aligning governance with the best global practice standards.”
With Zimbabwe’s economy forecast to grow by 6% this year, Devenish said the bank was well positioned to capitalise on opportunities, enhance customer experience, and reinforce its risk and capital management frameworks.
