HARARE, Jul. 22 (NewsDay Live) – The People’s Own Savings Bank (POSB) has declared a record dividend of US$5.14 million for the 2026 financial year after posting strong earnings, crediting shareholder Mutapa Investment Fund for supporting its transformation strategy and long-term growth.
The proposed dividend of US$5,138,997 is more than three times the US$1.52 million paid for the 2025 financial year and extends a five-year trend of rising shareholder returns.
“The proposed dividend for 2026 in the sum of US$5.1 million demonstrates the bank’s ability to deliver sustainable shareholder returns while maintaining adequate capital to support future growth and strategic investments,” POSB said in its chief executive’s report.
Addressing the bank’s annual general meeting, chief executive officer Garainashe Changunda said POSB’s performance reflected the strength of its transformation strategy and the confidence shown by its shareholder and customers.
“As I reflect on our transformation journey, I am proud of the significant progress we have made in advancing innovation, strengthening operational excellence and enhancing customer value. Our performance reflects the resilience of our strategy, the dedication of our employees, and the continued trust and confidence of our customers, shareholder and other stakeholders in the POSB brand,” Changuinda said.
The bank said dividend payments had increased from US$216,334 in 2022 to US$5.14 million in 2026, highlighting improved profitability and prudent capital management.
POSB also said it had strengthened its capacity to finance productive sectors after securing US$5 million from the Mutapa Investment Fund, US$10 million from Afreximbank and a US$22.5 million agricultural mechanisation facility under the Belarus programme.
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As of June 30, 2026, the bank’s loan book had grown to US$54.3 million, while customer deposits reached US$99.4 million, driven by business expansion and growing customer confidence.
Changuinda said the bank remained focused on digital transformation.
“Through continued investment in digital technologies and capabilities, we are building a modern, trusted and digitally inclusive financial institution that is well-positioned for the future,” he said.
POSB said implementation of its Transformation Strategic Plan had reached 83.5% by the end of June and remained on track for the full deployment of its core banking system by December 2026.
The bank said its strong capital position and improving profitability would enable it to continue supporting Zimbabwe’s productive sectors while delivering sustainable value to its shareholder.
