Econet Zimbabwe owned Steward Bank reported a profit increase of 37% in the half year to 31 August 2016. The bank made $2,6 million in the six months, up from $1,9 million in the same period last year. Steward Bank has been in the black since FY 2016. In the 2015 full year, the bank ade a loss of $8.8 million.
Steward Bank chairman Bernard Chidzero said:
I attribute the growth to our bold strategy to pursue a new banking model anchored on transactional banking and a seamless integration with the EcoCash mobile money platform as central pillar.