{"id":100383,"date":"2024-11-08T08:16:06","date_gmt":"2024-11-08T06:16:06","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-asset-base-rises-71-in-q3"},"modified":"2024-11-08T10:23:37","modified_gmt":"2024-11-08T08:23:37","slug":"cbz-asset-base-rises-71-in-q3","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/cbz-asset-base-rises-71-in-q3","title":{"rendered":"CBZ asset base rises 71% in Q3"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>FINANCIAL giant CBZ Holdings Limited&#8217;s asset base rose by 71% to ZiG30,05 billion in the third quarter ended September 30, 2024, owing to a robust financial performance.<\/p>\n<p>The increase in its asset base is from ZiG17,58 billion, recorded as of the end of June.<\/p>\n<p>This growth was assisted by a depreciation of local currency, the ZiG, in the period under review.<\/p>\n<p>In a trading update for the nine months ended September 30, 2024, CBZ recorded a profit after tax of ZiG1,01 billion and total income of ZiG2,68 billion.<\/p>\n<p>\u201cThe group delivered a robust financial performance for the period under review, underpinned by a solid asset base of ZiG30,05 billion, a comprehensive product range and a strategy that continues to position the business favourably within a competitive landscape,\u201d CBZ said.<\/p>\n<p>\u201cWith a profit after tax of ZiG1,01 billion and a total income of ZiG2,68 billion, the group has effectively leveraged its core strengths to achieve consistent growth.<\/p>\n<p>\u201cNet interest income reached ZiG880,02 million, supported by a loan portfolio of ZiG8,90 billion, highlighting the group\u2019s prudent approach to lending and commitment to maintaining high-quality assets.\u201d<\/p>\n<p>The group added that non-interest income of ZiG1,8 billion underscored its strategy to diversify revenue streams, reduce the reliance on interest income and enhance income stability through diversified financial services and product offerings.<\/p>\n<p>\u201cThe group\u2019s strong market presence, supported by a deposit base of ZiG18,51 billion, continues to provide a key funding source, enabling it to support lending activities to the key sectors of the economy while effectively managing liquidity,\u201d CBZ said.<\/p>\n<p>According to CBZ its strategy, which focuses on customer-centric solutions and targeted market expansion, has enabled the group to remain agile in navigating economic challenges while capturing new growth opportunities.<\/p>\n<p>\u201cGoing forward, the commitment to build a solid financial foundation, combined with a comprehensive product range, positions the business well to continue delivering value to its stakeholders,\u201d CBZ said.<\/p>\n<p>CBZ said it would continue to deploy its capital towards unlocking long-term value for its stakeholders.<\/p>\n<p>\u201cThe board of directors remains confident in the group\u2019s capability to operate as a going concern, underpinned by strong financial performance and an agile business strategy,\u201d CBZ said.<\/p>\n<p>CBZ Holdings\u2019 share price rose by 90,8% to close the quarter at ZiG14.<\/p>\n<p>The company ended the quarter with a market capitalisation of ZiG7,3 billion, the fourth ranked listed counter on the Zimbabwe Stock Exchange.<\/p>\n<p><strong>For More News And Analysis About Zimbabwe Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. FINANCIAL giant CBZ Holdings Limited&#8217;s asset base rose by 71% to ZiG30,05 billion in the third quarter ended September 30, 2024, owing to a robust financial performance. The increase in its asset base is from ZiG17,58 billion, recorded as of the end of June. This growth was assisted by a depreciation of [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":100382,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[19],"class_list":{"0":"post-100383","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-zimbabwe"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBZ asset base rises 71% in Q3 - zimbabwe<\/title>\n<meta name=\"description\" content=\"FINANCIAL giant CBZ Holdings Limited&#039;s asset base rose by 71% to ZiG30,05 billion in the third quarter ended September 3 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-asset-base-rises-71-in-q3\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBZ asset base rises 71% in Q3\" \/>\n<meta property=\"og:description\" content=\"FINANCIAL giant CBZ Holdings Limited&#039;s asset base rose by 71% to ZiG30,05 billion in the third quarter ended September 3 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-asset-base-rises-71-in-q3\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-08T06:16:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-08T08:23:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/11\/sm_1731041580.123294.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-asset-base-rises-71-in-q3\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/cbz-asset-base-rises-71-in-q3\",\"name\":\"CBZ asset base rises 71% in Q3 - 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