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Banks record $242m profit

HARARE – Zimbabwe’S financial institutions have recorded a 34 percent surge in profits during 2017 to $242 million from $181 million in 2016, despite tight liquidity and deteriorating economic conditions. Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said 18 out of the 19 operational financial institutions had posted profits in 2017, with the sector’s…

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