ZB Financial Holdings says its income for the first quarter (Q1) doubled in inflation adjusted terms due to growth in earnings underpinned by a 291 percent increase in fair value credits and foreign exchange income.
This reflected the asset value adjustments in line with changes happening in the operating environment.
In their Q1 trading update, the group’s total income increased by 111 percent from $2,29 billion for the three months’ period ended March 31, 2021 to $4,85 billion recorded in March 2022.
Total assets for the group as at March 31, 2022 closed at $64.1billion, having increased by six percent from the total of $60,5 billion as at 31 December, 2021.