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First Capital Bank Zimbabwe delivered a strong financial performance for the year ended 31 December 2025, with profit after tax rising 52% to US$30.1 million, as the institution capitalized on improved operational efficiency, growing customer confidence, and a strategic shift toward non-funded income streams.
Presenting the bank’s abridged audited financial statements, Chief Executive Officer Mr. Tapera Mushoriwa said the bank’s performance marked an important turning point in its transformation journey. First Capital Bank Abridged Financial Statements
“2025 was a defining chapter for First Capital Bank… we delivered quality growth sustainably,” Mushoriwa said, emphasising that the institution’s gains were not incidental but rooted in deliberate strategic execution.
Total net income rose to US$81 million from US$74.2 million in the prior year, supported by growth in both interest and non-interest income.
Analysts note that the widening contribution from fees and transactional banking signals a gradual rebalancing of the bank’s revenue model away from traditional lending.
This shift is reflected in the bank’s operational metrics. First Capital achieved a cost-to-income ratio of 47% while delivering positive “jaws” of 21%, indicating that revenue growth significantly outpaced expense increases.
Mushoriwa attributed the improved performance to disciplined cost management and a stronger digital backbone, including the rollout of a new core banking system and expanded digital service channels.
“We delivered a formidable and structurally enhanced financial performance,” he said, adding that the bank remains focused on embedding efficiency while scaling its operations.
Balance sheet growth remained steady, with total assets increasing 13% to US$332 million. Customer deposits rose 14% to US$200.1 million, while loans and advances also grew 14% to US$128.7 million, indicating balanced expansion across funding and lending activities.
Liquidity and capital adequacy levels remained well above regulatory thresholds, with a liquid asset ratio of 65% and capital adequacy at 26%, positioning the bank strongly within a tight monetary environment.
“The performance reflects disciplined execution following structural reforms implemented in 2024,” Mushoriwa said. “We have capitalised on a more stable macroeconomic environment while maintaining a strong risk management posture.”
He also said that customer growth played a key role in driving earnings. The bank onboarded tens of thousands of new retail clients and expanded its corporate relationships, reinforcing its market position.
“Your confidence fuels our ambition,” Mushoriwa said, acknowledging the role of customers in supporting the bank’s expansion strategy.
Earnings per share rose to 1.39 US cents from 0.92 US cents, underscoring improved shareholder value. The board declared a dividend increase, signalling confidence in the bank’s earnings sustainability and capital position.
First Capital Bank Chairman Patrick Mweheire also weighed in on the companys perfomance saying the period was underpinned by the banks meticulous execution of its priorities.
“The 2025 financial year was a period of significant macroeconomic stabilisation, and our performance was underpinned by the disciplined execution of our strategic priorities,” he said. “We have built a resilient and agile institution.”said Mweheire
Market observers say First Capital Bank’s results mirror a wider trend in Zimbabwe’s banking sector, where institutions are increasingly relying on transactional income, digital services, and fees to drive profitability while limiting exposure to credit risk.
An economist who spoke to TechnoMag said the combination of strong profitability, high liquidity, and operational efficiency places the bank among the more resilient players in the sector.
Commenting on the financial statements, Mr Ciaran M. McSharry also said that the bank, going forward will focus on customer retention.
“The Bank delivered a formidable and structurally enhanced financial performance, accelerating our profitability to a record USD 30.1 million. Our strategic focus remains firmly on customer-centricity, digital innovation, and sustainable growth. We are committed to placing the customer at the absolute centre of our proposition and will continue to invest in technology and talent to enhance our service delivery.”
Looking ahead, Mushoriwa struck a cautiously optimistic tone, noting that while the macroeconomic environment has stabilized, uncertainties remain.
“Our strategy remains simple: protect the foundation, serve our clients’ needs and create enduring value,” he said. “We will continue to prioritise agile risk management as we navigate an evolving operating environment.”
It can be observed that the bank’s forward strategy will center on leveraging its upgraded core banking system, deepening digital capabilities, and expanding its customer base, with sustained investment in technology and talent expected to underpin long-term growth.
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