Agribank to Maintain Profitability

By Shame Makoshori

Agribank chief executive, Sam Malaba, has vowed that the bank, a perennial loss maker until it returned to profitability in 2016, will never again slip back into the swamps.

Malaba said profit after tax for the year ended December 31, 2017 grew 65 percent to $7,9 million from $4,8 million at the same time in 2016, riding on investments in technology-based banking.

E-transactions rose 1 800 percent to 3,6 million during the review period, from 200 000 the previous year due to cash shortages.