Metbank

Metbank, formerly known as Metropolitan Bank of Zimbabwe, is a commercial bank in Zimbabwe. It is licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.[3]

Metbank
TypePrivate
IndustryFinancial services
Founded1999 (1999)
HeadquartersHarare, Zimbabwe
Key people
Darlick E. Marandure
(Chairman)
Belmont Ndebele
(Managing Director)
Products
RevenueIncreaseUS$660,288 (2016)[1]
Total assetsUS$200.7 million (2016)[1]
Number of employees
251 (2018)[2]
Websitewww.metbank.co.zw

Location

The headquarters and main branch of Metbank are located in Metropolitan House, at 3 Central Avenue, in Harare the capital and largest city of Zimbabwe.[2] The geographical coordinates of the bank's headquarters are: 17°49'31.0"S, 31°03'02.0"E (Latitude:-17.825278; Longitude:31.050556).[4]

Overview

Metbank serves large corporations, small to medium enterprises (SMEs), as well as individuals. The bank partners with MasterCard to issue debit and credit cards. As of December 2016, Metbank was a medium-sized financial services provider, with an asset base of US$200.7 million, with shareholders' equity of US$55.9 million.[1]

Metbank Limited has been involved with the introduction of digital banking, branchless banking, and internet banking and agency banking, while keeping the number of brick-and-mortar branches low. As of February 2018, Metbank had a network of banking agents numbering over 150, both inside and outside Zimbabwe. Many of these agents are women and youth, who otherwise would be unemployed.[5]

Ownership

According to the website of the Reserve Bank of Zimbabwe, the major shareholders in the stock of the bank include the following:[2]

Shareholding in Metbank
RankShareholderPercentage Ownership
1Loita Finance Holdings Limited60.00
2Blisford Investments Private Limited10.00
3Crudge Investments Private Limited10.00
4Metropolitan Bank Trust7.20
5Rhinemead Investments Private Limited6.40
6Knopfler Investments Private Limited2.80
7Equestrian Trading Private Limited2.80
8CAI Pension Fund0.80
Total100.00

Branch network

as of January 2021, Metbank maintains a network of branches at the following locations:[6]

  1. Main Branch: Metropolitan House, 3 Central Avenue, Harare
  2. Bulawayo Branch: Meikles Building, Corner Jason Moyo/ Leopold Takawira Bulawayo
  3. Gweru Branch: Shop No. 1 & 2 Bahadaur Centre, Main Street, Gweru
  4. Mutare Branch: Shop 1, Zimre Centre, Corner of Herbert Chitepo Street and 5th Street, Mutare

Governance

The chairperson of the bank's board of directors is Dr. Linda Chipunza, a non-executive director. The managing director is Belmont Ndebele.[7]

See also

References
  1. Charles Rukuni (3 April 2017). "Metbank Zimbabwe profit doubles". Harare: Zimbabwe Insider. Retrieved 15 May 2018.
  2. Reserve Bank of Zimbabwe (15 May 2018). "Profile of Metbank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 15 May 2018.
  3. Reserve Bank of Zimbabwe (15 May 2018). "List of Registered Banking Institutions". Harare: Reserve Bank of Zimbabwe. Retrieved 15 May 2018.
  4. Google (15 May 2018). "Location of the Headquarters of Metbank Limited, 3 Central Avenue, Harare" (Map). Google Maps. Google. Retrieved 15 May 2018.
  5. Vhurundiya, Tapiwa (1 February 2018). "Metbank 'branchless' banking sets new tone for innovative banking". Bulawayo: Bulawayo24.com. Retrieved 15 May 2018.
  6. Metbank Limited (15 May 2018). "The Branch Network of Metbank Limited". Harare: Metbank Limited. Retrieved 15 May 2018.
  7. "Board of Directors". Metbank. Retrieved 15 January 2022.
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