Net Income for the Zambia National Commercial Bank ZANACO has increased by 12,162 Kwacha from 702,766 kwacha as at the end of June 2017 to 717,928 kwacha by June 30 2018.
This represents a two percent increase.

However the company’s profit before income Tax has decreased by three percent from 151,289 in June 2017 to 146,386 the same period in 2018.

The Bank further discloses that Non-funded income (NFI) has grown by 24% Year-on-Year due to strong commission and foreign exchange income.

This is largely linked to the increase in deposits which have grown 17% Year-on-Year, and transaction activity has in turn increased; consequently, NFI has contributed 41% to total income compared to 33% in the prior year.