Banking sector core capital up 5,8%

THE Reserve Bank of Zimbabwe (RBZ) has said the banking sector’s aggregate core capital increased by 5,8% to $1,04 billion for the half-year ended June 2016 from $982,50 million during the same period last year on the back of improved earnings performance.

In his mid-term monetary policy review statement, RBZ governor John Mangudya said the banking sector average capital adequacy and tier 1 ratios of 24,17% and 21,51% respectively as at June 30, 2016, were above the minimum required capital adequacy and tier 1 ratios of 12% and 8% respectively.

“All banking institutions were adequately capitalised and in compliance with prescribed minimum capital requirements.

This story is for NewsDay subscribers.