NEDBANK Zimbabwe managing director, Charity Jinya, is leaving the bank next month after serving the financial institution for a decade.
The former president of Bankers Association of Zimbabwe, who joined Nedbank Zimbabwe formerly MBCA Bank in 2010, confirmed the development this week.
The bank changed its name to Nedbank Zimbabwe in 2018.
“I am left with few weeks before I leave the bank,” Jinya said this week.
It could not be immediately established who will take over from Jinya.
When she was appointed the bank’s managing director in 2010, Jinya broke new ground by becoming the first female director to head the bank in its more than 50 year history.
Prior to joining the bank, Jinya, who holds an economics degree from University of Sunderland in the United Kingdom, was the managing director of Barclays Bank Zimbabwe from 2004 to 2008, when she was transferred to Barclays Bank Uganda.
She then moved to MBCA Bank in February 2010. Her banking career started at ZB Bank, which was then called ZimBank, where she started as senior manager, strategic planning and development.
She rose through the ranks to become executive director at ZB Bank and Scotfin, where she spent 14 years.
She left in 2003 to join Barclays Bank, now First Capital Bank, as chief operating officer.
Jinya, who has a very long career in banking, has also been through several leadership programmes such as the Chicago Business School Executive Development Programme and the London Business School Senior Leadership Programme.
She also served on several boards including Delta Corporation, Bindura University of Science and Education, Zim Sun now African Sun.
In 2015, she was crowned the director of the year, awarded by the Institute of Directors, Zimbabwe.
Jinya leaves Nedbank Zimbabwe in good shape. Nedbank Zimbabwe’s profit rose 225.35% to ZWL$14.2m in the six months to June 30,2019 from ZWL$4.36m in the comparative period in 2018.
The bank’s non-interest income rose to ZWL$33.15m during the period under review with fees and commissions contributing 74.2% compared to ZWL$11.48m reported in the same period in 2018.
Net interest income also rose to ZWL$14.4m from ZWL$9.69m in comparative period in 2018.
Loans and advances to customers rose to ZWL$278.08m due to increases in overdrafts and term loans.
In the 2018 comparative, loans and advances were ZWL$116.98m.
Total operating expenses nearly doubled to ZWL$29.13m from ZWL$15.29m in prior year.
Total assets grew to ZWL$1.09bn during the reviewed period from ZWL$432.64m in 2018.
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