First Capital Bank Zimbabwe Limited
First Capital Bank Zimbabwe Limited, formerly known as Barclays Bank of Zimbabwe, is a commercial bank in Zimbabwe, licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.[2]
 | |
| Formerly | Barclays Bank of Zimbabwe |
|---|---|
| Type | Public |
| ZSE: FCAZW | |
| Industry | Financial services |
| Founded | 1912 |
| Headquarters | Harare, Zimbabwe |
Key people | Patrick Devenish Chairman[1] Ciaran McSharry Acting Managing Director[1] |
| Products | Loans, transaction accounts, savings, investments, debit cards |
| Revenue |  Aftertax: |
| Total assets | US$700 million (2018) |
Number of employees | 711[2] (2020) |
| Parent | FMB Capital Holdings |
| Website | firstcapitalbank |
The bank is a subsidiary of FMBCapital Holdings Plc, a financial services conglomerate, based in Mauritius with other subsidiaries in Botswana, Malawi, Mozambique, Zambia.[3]
Location
The headquarters and main branch of the bank are located in Barclay House, at the corner of Jason Moyo Street and First Street, in downtown Harare, the largest city and capital of Zimbabwe.[4] The geographical coordinates of the headquarters of First Capital Bank Zimbabwe are:17°49'50.0"S 31°02'59.0"E (Latitude:-17.830556; Longitude:31.049722).[5]
Overview
The bank is a large financial services provider in Zimbabwe, serving large corporations, small-to-medium enterprises (SMEs), as well as individuals. As of December 2018, its total asset base was valued at US$698,744,000, with shareholders' equity of US$116,503,000.[6]
History
Barclays Bank Zimbabwe (BBZ) was established in 1912, and it operated continuously until 2018. As of October 2017, BBZ employed in excess of 700 permanent staff, in a commercial banking network of 26 branches in all large urban areas in the country.[7] In October 2017, it was announced that First Merchant Bank Malawi had purchased a controlling interest in BBZ, for an undisclosed consideration.[7] Under the terms of the sale, the bank was given permission to continue the use of the Barclays name for up to three years, before rebranding.[8]
During the 2008–2012 time frame, the bank employed a maximum of 1,423 employees in January 2008, but the payroll was "rationalized" to about 700, by the time FMB Capital Holdings Plc acquired the bank.[9]
In October 2018, the bank rebranded from Barclays Bank of Zimbabwe to First Capital Bank Zimbabwe Limited, to reflect its current shareholding.[10]
In March 2019, the bank migrated from the Barclays banking system to a new IT banking system.[11]
Ownership
First Capital Bank Zimbabwe Limited (FCBZL), is a subsidiary of FMB Capital Holdings Plc, a Mauritius-based financial services conglomerate, with subsidiaries in several Southern African countries, including Botswana, Malawi, Mozambique, Zambia, and Zimbabwe. The shares of stock of FCBZL are listed on the Zimbabwe Stock Exchange. The major shareholders in the bank are depicted in the table below, as of October 2017.[7]
| Barclays Bank of Zimbabwe Stock Ownership | ||||||||||||||||||
BranchesAs of April 2020, First Capital Bank Zimbabwe Limited maintained a network of branches at the following locations.[12]
See alsoReferences
External links |