Zanaco Managing Director Bruce Dick says the bank last year recorded a net profit of 1-hundred and 43 million kwacha which is lower than anticipated.
Speaking during a media briefing after the Bank’s Annual General Meeting in Lusaka today, Mr. Dick says the bank posted revenue growth of 16 percent which he attributes to an increase in interest income on loans and advances.
Meanwhile Mr. Dick says the bank has focused on increasing its customer base to 1-million this year from the current 850.
He adds that the bank has further focused on improving its efficiency on availability of money in its ATMs and making them work more often.
And commenting on the current weakening of the kwacha, Mr. Dick says the situation within the first quarter of this year is not different from the same period last year.
He has however stated that banks are more ready for the situation this year.
Mr. Dick says the bank during the AGM also appointed former Airtel Managing Director Charity Lumpa as Board chairperson and Hastings Mtine as an ordinary member both whom are subject to approval by the Bank of Zambia.