Although it had a net loss under current cost accounting, ZDB Financial Services saw its net profit increase by 177% in historical terms. In its results for the year ending December 2000, the financial institution had a net loss of $9.3 million down from $22.8 million under inflation accounting. Its net profit increased from $7.9 million to $21.9 million under historical cost. Net interest income increased from $24.3 million to $44.9 million and other income rose from $359 074 to $737 050.
After writing off $5.2 million and providing $5.8 million for bad and doubtful debts and operating expenses of $16.3 million, it was left with profit before tax of $28.8 million a 264% increase from $7.9 million in 1999. It said its return on assets improved from 7.7% to 18.3% while return on equity more than doubled from 14% to 29.5%. It had a capital adequacy ratio of 54.8% and a liquidity ratio of 377%.
