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Bancabc Records $7,6m Profit

Atlas Mara’s Zimbabwe unit, BancABC, has posted a profit after tax of $7,6 million for the year to December 31, 2017, from a loss of $1,4 million in 2016 on controlled growth in credit and quality lending.

The group said loans and advances remained constant over the period at $1,1 billion.

“This was coupled with low credit growth in markets such as Mozambique and Tanzania,” said ABC Holdings (ABCH) chairman, Jan Claassen, in a statement accompanying financial results.

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