The country's largest bank,
The group posted a net profit of
The banking group's total income rose just one percent to
Mr Nyemudzo said the bank remains "firm".
"CBZ and its subsidiaries remain firm in terms of capitalisation.
The bank had
Asset management has four times capital cover, the CBZ Life
"This gives us more room to be able to underwrite more business and also withstand any unplanned shocks," he said.
The group reported that Non-Performing Loans have risen to 6,1 percent from 4,4 percent in December last year.
NPLs are expected to be not more than eight percent by year end.
"We are enhancing our collection efforts especially on failed relationships," said Mr Nyemudzo.
Some of the new projects introduced include the medical aid cover, the Smartmoney mobile money service and land development.
CBZ is developing 1095 stands in Nehosho Gweru, 284 in Chikanga Mutare and about 400 stands in Kwekwe.
"We are largely funding this from a line of credit from ShelterAfrique. The stages of completion are encouraging with the Nehosho project expected to start selling before the end of the month. We are expecting completion of the servicing before end of September and parallel construction of the units should also start soon," said Mr Nyemudzo.
The houses cost
"We are sitting at about
CBZ Global fund has been set up in
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