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Zanaco increases dividends by 16%

Zanaco has increased its dividend declaration to shareholders by 16% for the 2022 financial year, Board Chairman Mr. Patrick Wanjelani has announced, following the bank’s 53rd Annual General Meeting.
Last year, Zanaco, which is owned 24.8% by IDC, declared a total dividend of K364 million to its shareholders.
Mr Wanjelani said 2022 was another great year for the bank, as it recorded revenue growth of 11% year-on-year to a record K3.94 billion, attributed to its focus on delivering on its strategy, as well as its participation in key growth sectors.
“With the performance that we recorded in our 2022 financial year, we are pleased to announce that we have declared a dividend of K0.292 per share. This is a 16% increase from the K0.252 per share we declared in 2021,” he said.
Meanwhile, Zanaco Chief Executive Officer Mrs Mukwandi Chibesakunda has said the bank grew its customer base from 2.5 million to four million during the year.
She also said in terms of performance, Zanaco’s balance sheet grew by 37% while the bank maintained market leadership in loans and advances, which closed at K12.12 billion at the end of the year.
Mrs Chibesakunda said going forward, the bank would remain focused on delivering on its mid-term plans to maintain its leading position on the market.

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