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*First Capital Bank Operating Income Surges By $1.4 Billion* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?rr Leading financial services provider, First Capital Bank (FCB) has seen operating income surging by $1.4 billion on the back of increased loans and transactional income. The bank’s company secretary, Sarudzayi Binha said sound financial strides were made during the second and third quarters period. Presenting a trading update covering the second and third quarters, Binha said: ---------- Latest itel S24 available on Pindula: 128GB storage, 4GB RAM $119 USD WhatsApp: +263715068543 Calls: 0772464000 Buy Online: https://www.pindula.co.zw/market/itel-s24-128gb-22-20240426142756795795/?s=wanews ---------- > The Bank’s year to date inflation-adjusted operating income increased by $1.4 billion from the second quarter to $3.7 billion in the third quarter whilst in historical terms, the increase was $1.4 billion to $3.6 billion. > In inflation-adjusted terms, year to date operating expenses increased by $1billion to $2.6 billion while in historic cost terms, the increase was $692 million to $1.9 billion. Year to date operating profit excluding investment property gains and tax increased by $814 million to $1.5 billion in inflation-adjusted terms whilst in historic cost it increased by $674 million to $1.6 billion. During the period, profit after tax was $393 million and $1.3 billion in historical terms. The growth was attributed to both increase in loans and transaction income realised during the reporting period. Customer deposits grew by $2.8 billion to $12.6 billion driven by growth from local and foreign currency depositors with foreign currency constituting 46 % of the total deposits. Loans grew by $1.3 billion to $6.1 billion and the loans book continued to perform well with non-performing loans at 0.19 % of the loan book. More: NewZimbabwe _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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