Zimbabwe banks thriving on false security

Zimbabwean banks are thriving under false security because their profits do not reflect the country's challenging and cashless macroeconomic environment, a local think-tank said.

Econometer Global Capital said the financial services sector, which has been recoding profits for the past two years, was set for robust deposit and asset growth in 2018.

The analysts said while the banking sector would continue to grow this year, government borrowing would drive asset growth as the authorities rely on banks to plug a large fiscal shortfall.