Agribank posts US$4.8 million profit

Agribank posts US$4.8 million profit

By Michael Gwarisa AGRO financial services concern Agribank registered a US$4.8 million profit for the period ended 31 December 2016 at the back of a myriad of cost containment strategies the bank adopted over the period under review. The profit according to the bank’s Chief Executive Officer Sam Malaba is a massive improvement from the US$6.3 million loss that was recorded in 2015. “The positive performance marked an indication of the solid turnaround for the bank premised on the implementation of a range of turnaround initiatives following the capitalisation of…

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Agribank ICT expansion project gobbles US$ 900 000

Agribank ICT expansion project gobbles US$ 900 000

By Lynette Fushai AGRICULTURAL skewed financial institution, Agribank has invested US$ $900 000 towards upgrading its huge banking network and new ICT equipment in a bid to widen its products and services. Briefing Journalists, Agribank chief executive officer Somukhosi  Malaba said the banks ICT expansion project has seen the bank successfully concluding the deployment of close to a thousand Point of Sale (POS) machine around the country. “The Bank has continued to aggressively implement the ICT strategy to upgrade and enhance the channels and widen product and service delivery. The…

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