FIRST Capital Bank has reported a 26 percent increase in profit after tax, primarily fueled by growth in loans and advances and an expanding customer base.
According to the bank, consolidated adjusted profit after tax reached US$15,4 million, surpassing the US$12,2 million recorded in the same period last year.
First Capital’s chief executive, Tapiwa Mushoriwa, said, “Loans to customers increased by 30 percent over the same period to close at USD86.1m, compared to US$65,9 m as of 31 December 2022, with 92 percent of business having been underwritten in US dollars as at December 31, 2023.”