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 (Econometer) said the financial services sector, which has been recording profits for the past two years, was set for robust deposit and asset growth in 2018.
“However, rather than being signs of strength for the sector, these factors are the result of a challenging macroeconomic environment in which hard cash is scarce.
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