NMBZ Holdings says its income increased from $1,66 billion to $2,25 billion during the year ended December 31, 2021, largely driven by growth in transaction volumes and values.

The group achieved a basic earnings per share of 463 cents from 338 cents, results published Thursday showed.

Operating expenses at $3,5 billion were 72 percent above the 2020 levels, reflecting the effects of inflation and exchange rate depreciation.

The financial services group said it will continue to pay special focus on its digitisation strategy which is expected to increase efficiencies resulting in cost reduction.