Interfin Holdings, a financial services group which incorporates merchant banking, insurance, consumer finance, stockbroking and asset management, had a net profit of $3.6 billion, a 1 663 percent increase from the $207 million it recorded in 2001.
Century Holdings, another financial services company which is expanding into the region, saw its International Transfer company in Botswana make a loss of $55 million but it says this was largely because the operation was a start up, but overall it made a net profit of $352.4 million.
Royal Bank, one of the latest commercial banks in the country, made a profit of $70.2 million in its first eight months of operation, but it already had seven branches, the flagship branch being in Harare and others in Bulawayo, Chegutu Chipinge, Gwanda, Karoi and Nyanga.
Rapid Discount House had a slight drop in profit from $430.6 million to $420.1 million, largely because of an increase in operating expenditure and a higher tax provision.
Time Bank had a strong performance with net profit increasing from $679.7 million to $2.1 billion last year.