TN CyberTech profits soar as digital banking boom fuels growth
TN CyberTech Investments Holdings reported interim earnings of 109.6 million ZiG for the six months ending on Aug. 31, crediting its expanding digital banking operations for the gains. The financial institution said transaction activity and platform efficiency drove results during the period, with profit before tax reaching 133.8 million ZiG and net operating income totaling 499.9 million ZiG. Assets climbed to 5.89 billion ZiG from 4.79 billion ZiG recorded in February, while customer deposits advanced to 3.60 billion ZiG compared with 2.80 billion ZiG at the previous fiscal year close.
Chief Executive Hazvinei Kapfunde said the lender installed advanced automated teller machines in Bulawayo and central Harare while broadening point-of-sale terminal coverage to serve corporate clients and smaller enterprises. Digital channel revenues hit 179 million ZiG, representing a 40 percent gain, with point-of-sale income jumping 89 percent annually. Net interest income surged 235 percent to 106.6 million ZiG from 31.8 million ZiG one year earlier.
Group Chief Executive Tawanda Nyambirai noted that just 46 percent of Zimbabwean adults maintain formal banking relationships, describing the digital push as addressing exclusion. Management plans partnerships across mining, agriculture and manufacturing industries during the remaining months of 2025 while preparing to introduce WhatsApp banking services and automated remittance features.
