NMBZ Holdings Ld Profit Warning Announcement (5023Z)

TIDMNMB

RNS Number : 5023Z

NMBZ Holdings Ld

07 February 2014

NMBZ HOLDINGS LIMITED

Holding company of

NMB BANK LIMITED

(Registered Commercial Bank)

(Incorporated in Zimbabwe under company registration number 1714/95 on 6 March 1995)

PROFIT WARNING ANNOUNCEMENT

The Board of Directors (the "Board") of NMBZ Holdings Limited (the "Company") together with its subsidiaries (the "Group") would like to inform the shareholders of the Company and investors that the Board has reviewed the banking subsidiary's loan book and has consequently increased the impairment losses on loans and advances. This will have a material impact on the results for the year ended 31 December 2013 and the Group will record an attributable loss for this period.

Notwithstanding the negative impact of the above-mentioned impairment losses on loans and advances, the capital position of the bank remains above the regulatory minimum. In addition, the capital adequacy and liquidity ratios for the banking subsidiary remain above the regulatory minimums.

In the meantime, the Board wishes to advise shareholders of the Company and investors to exercise caution when dealing in the shares of the Company.

By Order of the Board

Mrs Violet Mutandwa

Company Secretary

7 February 2014

Directors: Mr. T. N. Mundawarara (Chairman); Mr. J. A. Mushore (Group CEO)*; Mr. F. Zimuto (Deputy Group CEO)*; Mr. B. Ndachena (Chief Financial Officer)*; Mr. A. M. T. Mutsonziwa; Mr. B. W. Madzivire; Dr. J. T. Makoni;; Mr. J. Chigwedere; Mr. J. Chenevix-Trench (*Executive).

Address: 4th Floor, Unity Court, Corner 1st Street/ Kwame Nkrumah Avenue, P.O. Box 2564, Harare

Website: www.nmbz.co.zw

This information is provided by RNS

The company news service from the London Stock Exchange

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