Banking, Investrust Bank PlcOctober 13, 2019

Harry exits as CFO at Investrust Bank
The Board of Directors of Investrust Bank Plc has announced the departure of Mr. Harry Mafuta as Chief Financial Officer of the Company effective 10th October 2019.   “The Board would like to thank Mr. Mafuta for his invaluable contribution to the Company over the last 15 years, having first served as Financial Controller from […]

Banking, CavmontOctober 9, 2019

Cavmont Capital Holdings sees improved performance despite negative earnings at Full-Year 2019
Cavmont Capital Holdings Zambia Plc has reported a set of results which show an improvement compared to the prior year with a significantly reduced loss before tax compared to the previous period, according to a statement from the Company. “The Group reported a loss before tax of K16.6m for the year ended 30 June 2019 […]

BankingOctober 7, 2019

(Sponsored)PRESS RELEASE: NATSAVE Reveals New Brand Identity with Redesigned Logo and Colours
Lusaka – 7th October 2019 – National Savings and Credit Bank – NATSAVE, announced today the launch of its new corporate brand identity – a redesigned logo and enhanced colours. These changes come at a time when the bank is evolving its service offerings and repositioning in the market. “In the last year, NATSAVE has […]

Banking, ZANACO plcOctober 7, 2019

ZANACO forecasts weaker earnings per share at half-year 2019
ZANACO Bank has announced that it expects its earnings per share to be 29% lower at half-year 2019, according to a statement from its Board.   ZANACO becomes the latest LuSE listed company to announce weaker half-year results during a period that has seen inflation rise beyond the central bank’s target range of between 6 […]

Banking, StandchartSeptember 12, 2019

Topline shrinks, OPEX swells; Standard Chartered Bank 2019 half-year review
Contraction in the financial sector has continued as Standard Chartered Bank reported a 6% reduction in revenue following a 21% decrease in Non-funded income despite the 5% increase in banks’ core value-generating source – net interest income.   “H1 2019 performance for the Bank compared to H1 2018 has dropped on account of decrease in […]

Banking, Investrust Bank PlcSeptember 10, 2019

Still at a loss after tax – Investrust Bank at half-year 2019
Investrust Bank has recorded a loss after tax of K39.74 million for the financial half-year ended 30 June 2019, according to a statement from the bank.   “The Bank recorded a loss after tax of K39.74 million for the half-year ended 30 June 2019 (H1 – 2018: Loss of K33.01 million)”, read a statement issued […]

Banking, FinanceSeptember 5, 2019

Banks Entry in the Insurance Territory Part 1
In the year 2018 the Zambian banking sector witnessed both favourable and unfavourable business environment conditions. Top among notable favourable business environment conditions was the stable and consistent lending interest rates backed by the Bank of Zambia’ monetary policies. However it was during the year 2018 that the Bank of Zambia in its role as […]

Banking, Investrust Bank PlcAugust 13, 2019

From Mwanza to Banda; Change in Board Chair at Investrust Bank
Investrust Bank Board Chairman Dr. Jacob Mwanza has retired from the role paving way for Peter Banda who has since been appointed as his replacement, according to a statement issued by the Bank. “In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules, the Board of Directors of Investrust Bank Plc (“the Board”) […]

Banking, Investrust Bank PlcJuly 13, 2019

Abridged Financial Analysis – Investrust Bank Plc
Investrust Bank Plc has continued its efforts to record positive trends in the overall performance despite still being in a loss making position. The Bank has managed to achieve their positive trends with the help of their 25 branches after closing 2 branches and 3 agencies across Zambia, offering a full range of banking services […]

Banking, Investrust Bank PlcJuly 12, 2019

The Curious Case of Investrust PLC Zambia and its parallels to Deutsche Bank…
I’d like to take you on a journey, dissecting Investrust Zambia PLC’s financials over the past 5 years. Hopefully through it, a trend will be observed as well as an ongoing strategic master class which is aimed at bringing the troubled bank back to profitability. The fascinating links between the case of Investrust and Deutsche […]