Agribank narrows losses, eyes $4m capital uplift

THE Agricultural Bank of Zimbabwe Limited (Agribank) has narrowed its losses to $1,2 million in the six months to June 30 from $3,7 million in the same period as the prevailing liquidity conditions forced the bank to cut on lending.

VICTORIA MTOMBA
BUSINESS REPORTER

“The loss was mainly a result of the reduced level of lending due to the prevailing liquidity conditions and impairment charges,” board chairman Siyabuliso Biyam said in a statement accompanying the bank’s financial results.

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