CBZ profits from unrealised forex worth nearly $48bn

ZIMBABWE’S largest financial group, CBZ Holdings has posted a near 147% increase in profit after tax to $17,45 billion on the half year ended June 30, 2022 driven by forex gains of nearly $48 billion.

The increase in profit after tax profit was from a 2021 comparative of $7,07 billion.

In the half year, CBZ’s non-interest income rose nearly 179% to $73,09 billion, from a 2021 comparative of $26,24 billion, owing to an unrealised forex gain of nearly $48 billion.

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