By BUUMBA CHIMBULU ZANACO bank plc closed the 2021 financial year with a balance sheet of K9.8 billion, as it registers the first ever largest Profit After Tax (PAT) in Zambia’s banking industry.Out of this balance sheet, K5 billion was used to support the corporate and investment bank while K2 billion was spent on the business space, according to Chief Executive Officer, Mukwandi Chibesakunda, at a media briefing in Lusaka yesterday.Ms Mukwandi also said the bank had reported Profit After Tax of K1 billion in 2021, the highest ever achieved by any financial institution in Zambia.This becomes the largest profit for the bank, which has in the last five year posted solid results.She said this in a speech read for her by Zanaco Chief Commercial Officer, Chali Mwefyeni.According to the 2021 financial results, the bank’s revenue increased to K3.9 billion from K2.4 billion the prior year.This was largely due to increased interest income in loans […]
Zanaco’s balance sheet at K10bn
