CABS Reports US$15.11M Tax Impact Despite Profit Growth in 2025
CABS faced a US$15.11 million tax charge due to new income tax regulations, impacting net earnings. Despite this, the organization reported a 21.1% rise in pre-tax profit for 2025, driven by improved investment income and fair value adjustments.
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For the year ending December 31, 2025, CABS reported a profit before tax of US$38.59 million, up 21.1% from the previous year, aided by a recovery in investment income and a fair value gain. However, a newly imposed tax on non-mortgage income, effective January 1, 2025, resulted in a tax obligation of US$15.11 million, reducing surplus after tax to US$23.48 million.
CABS expanded its lending activities, securing US$162.7 million in credit facilities from partners, and increasing loans to US$253.26 million. The society also participated in a US$210 million syndicated facility to support the Zimbabwe Electricity Transmission and Distribution Company. CABS' total assets grew nearly 27% to US$632.4 million, indicating a stronger balance sheet despite the new tax burden.
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