In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of Zanaco Bank Plc (“the Board”) wishes to advise the Shareholders that for the financial year ended 31 December 2021, the Basic Earnings per Share is 343% higher than that for the financial year ended 31 December 2020.
The increase in profitability has been driven by the growth in interest income from customer loans and investment securities, as well as growth in trading income on account of structured transactions undertaken in the year. The performance was further boosted by impairment reliefs arising from prudent management and recovery of bad debts written off. This strong performance was anchored on a resilient balance sheet and a strong capital position.
The Company expects its results for the fiscal year ended 31 December 2021 to be released on SENS and published in the local press on or about 10th March 2021. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.
By Order of the Board
Kaluba Gloria Kaulung’ombe-Inampasa
Company Secretary
Issued in Lusaka, Zambia on 07 March 2022