MetBank posts after tax profit of $660 000 for 2016

Metbank Zimbabwe announced that its after-tax profit for 2016 was $660 288. This is more than double what it made in 2015 when it made $259 510.

Operating income rose 90 percent from $3,6 million in the previous year to $6,9 million. Net interest income declined by 94 percent from $4,3 million in the previous year to $251,987.

chairman Wilson Manase said:

The bank continues to be aggressive in its loan collection and recovery efforts whilst underwriting a new book with caution.

Non-performing loans declined to 3,1 percent a result of aggressive loan collection and a cautious lending strategy.

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