BancABC narrows losses

Tuesday, April 05, 2016

ABC Holdings Limited, the parent company to BancABC, narrowed losses it incurred in the first year of its acquisition by Atlas Mara Limited in July 2015.

This is evident from its preliminary group results for the year ended December 31, 2015. In comparison with its previous year’s performance, the group recorded an improvement of attributable loss of $0.6 million (P6.51 million), from the reported loss of $48.6 million (P527.23m) in 2014.

The group’s acting chief executive officer, Blessing Mudavanhu said while challenging, the first year of acquisition has been met with considerable success.

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