The Board of Directors of NMBZ Holdings Limited announces the release of the financial results for the full year ended 31 December 2016. Below are some excerpts from the financial report:
| FINANCIAL SUMMARY | 31 December 2016 | 31 December 2015 |
| Total income (US$) | 51 520 403 | 59 396 619 |
| Operating profit before impairment charge (US$) | 14 268 630 | 17 405 739 |
| Total comprehensive income (US$) | 5 055 196 | 5 490 068 |
| Basic earnings per share (US cents) | 1.32 | 1.43 |
| Total deposits (US$) | 260 550 383 | 277 216 769 |
| Total gross loans and advances (US$) | 205 858 392 | 243 241 018 |
| Total shareholders’ funds (US$) | 55 600 406 | 50 543 864 |
DIVIDEND
In view of the need to retain cash in the business and to strengthen the statutory capital requirements for the banking subsidiary, the Board has resolved not to pay a dividend.
OUTLOOK AND STRATEGY
The Group has continued to broaden the market catchment for the banking subsidiary by tapping into some segments of the mass market and this saw the launch in August 2016 of the NMBLite product offering which is targeted at the low income segment. The uptake of the mass market products has been encouraging and this has contributed to the financial inclusion agenda.
APPRECIATION
I would like to express my appreciation to our clients, shareholders and regulatory authorities for their continued support. I would also like to thank my fellow Board members, management and staff for their steadfast commitment, dedication and passion which has seen the achievement of these results in the face of an increasingly challenging operating environment.
B. A. CHIKWANHA
CHAIRMAN
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