INNBUCKS Microbank (Innbucks) posted an inflation adjusted profit after tax of $24,6 billion for the 16 months to June 30, 2023 largely driven by gains on exchange rate translations as well as fees and commissions income.
This significant performance is tied to $32,89 billion cash having been generated from operations. Innbucks is in the business of issuing loans, payroll processing, structured finance, international banking and wallet services among major services.
It was formed as a registered corporate after acquiring and renaming of Ndoro Micro-finance in 2022. InnBucks MicroBank Limited is owned by a Victoria Falls Stock Exchange-listed Simbisa Brands.
Net income reached $45,8 billion in its inaugural reporting period largely driven by net interest income of $1,08 billion and fees and commission income of $14,15 billion.