NMBZ Holdings Limited delivered a strong first-quarter performance for the period ended March 31, 2026, as its newly acquired Zambian microfinance unit, Entrepreneurs Financial Centre Zambia (EFCZ), contributed to a sharp rise in earnings and strengthened the group’s regional growth strategy.
Operating income rose 59% to US$24,2 million, up from US$15,2 million in the same period last year, driven by higher net interest income, resilient fee and commission income, and the first-time consolidation of EFC Zambia following its acquisition in January.
The performance underscores the early success of NMBZ’s regional expansion push into southern Africa, with the Zambian operation already beginning to contribute meaningful income and broaden the group’s MSME-focused lending footprint.
EFC Zambia contributed US$1,8 million, representing about 7,4% of total operating income, marking its first full contribution since acquisition. The unit is a deposit-taking microfinance institution focused on financial inclusion and financing for micro, small, and medium-sized enterprises (MSMEs).
“The group delivered a strong financial performance for the quarter ended 31 March 2026, with operating income increasing by 59% to US$24,2 million from US$15,2 million in the comparable prior period,” NMBZ said.
Growth was broad-based across the group, supported by lending expansion and stable fee-based income streams, while the consolidation of EFC Zambia added a new revenue layer to the group’s regional portfolio.
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Operating expenses rose 17,5%, but remained well below the pace of income growth, reflecting continued cost discipline and operational efficiency gains across the group.
Profit after tax jumped to US$8,34 million, up from US$2,52 million in the prior comparable period. The result included a non-recurring gain of US$3,8 million arising from the consolidation of EFC Zambia. Excluding this item, management said underlying performance remained broadly in line with expectations.
The acquisition of EFCZ represents a key step in NMBZ’s strategy to deepen its regional presence and scale its MSME lending model across southern Africa. The group said it intends to leverage EFC Zambia’s lending expertise through cross-border knowledge transfer and adaptation of its microfinance model to other markets.
Total assets increased 15% to US$390,8 million, from US$340,6 million at the end of December 2025, largely driven by strong loan book growth and the consolidation of the Zambian unit.
Net loans and advances grew 27% to US$198,2 million, while customer deposits rose 19% to US$154,6 million, reflecting improved balance sheet expansion and customer mobilisation.
The group maintained a strong capital position, with NMB Bank reporting a capital adequacy ratio of 24,3%, well above the regulatory minimum of 12%. Shareholder funds increased to US$92,9 million, up from US$84,2 million at the end of 2025.
NMBZ said the group remains adequately capitalised and well-positioned to support continued growth, with capital levels aligned to both regulatory requirements and expansion objectives across its regional markets.