NMBZ leans on lending as fees shrink

NMBZ has se­cured more than US$185 million in credit lines and is finalising an additional US$70 million, which is expected to further support its lending portfolio and offset the impact of fee cuts.

Advertisements NMBZ Holdings is ex­panding its lending port­folio to strengthen inter­est income as regulatory fee cuts introduced by the Reserve Bank of Zimbabwe (RBZ) threaten revenue from traditional banking charges.Advertisements The RBZ, in a bid to encour­age formal banking, recently lowered bank charges by capping cash withdrawal fees at two per­cent from an industry average…

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