First Capital Bank (FCB) posted a US$30 million profit after tax for the year ended 31 December 2025, rising 52 percent from prior comparable period, underpinned by customer growth and efficiencies driven by digital transformation.
Total net income increased by 13,5 percent to US$84,4 million during the period under review, up from US$74,3 million in the prior year, supported by growth in lending income as well as fees and commissions while customer deposits rose 12 percent to US$200 million, reflecting stronger uptake across segments.
Tapera Mushoriwa, the financial institution’s chief executive, said the performance was driven by continued investment in technology, including an expanded omni-channel platform, upgrades to its ATM network, and the rollout of integrated corporate cash management solutions.
“Crucially, the quality of our earnings improved significantly, with less than US$0,5 million derived from foreign currency revaluation gains (compared to US$6 million in 2024),” he said in a statement accompanying the financial results.
Mushoriwa added that operational efficiency played a central role in the outcome.
“This performance was driven by a 21 percent positive jaws ratio, as revenue growth aggressively outpaced cost expansion, a direct dividend of the structural efficiency programs we executed throughout 2025,” he said.
“This growth was fuelled by an expanding customer base, deepening wallet share among existing clients, and targeted financial inclusion initiatives across schools, faith-based organisations, and the SME sector,” Mushoriwa said, adding that this reflected “broadening market trust in our brand and its offerings.”
Despite tight liquidity conditions in the market, largely due to a restrictive monetary policy stance, the bank grew its loan book by 14 percent to US$129 million.
To support lending activity, FCB supplemented deposit funding with offshore credit lines, including facilities from Afreximbank and the European Investment Bank.
“This capital optimisation enabled us to provide uninterrupted support to critical, productive sectors of the economy, including agriculture, manufacturing, mining, tourism, and retail consumers,” Mushoriwa said.
Liquidity indicators also improved during the period, with the liquid asset ratio rising to 65 percent from 53 percent, while prudential liquidity stood at 41 percent.
The group closed the year with a Capital Adequacy Ratio of 26 percent, well above regulatory requirements.
“This comfortably exceeds the regulatory minimum and serves as a testament to our disciplined balance-sheet stewardship and forward-looking capital allocation strategies,” Mushoriwa said. – TML