Allied Bank Zimbabwe Limited

From Wikipedia, the free encyclopedia
Jump to: navigation, search
For Allied Bank, the Philippines, see Allied Banking Corporation. For Allied Bank, Pakistan, see Allied Bank Limited.
Allied Bank Zimbabwe Limited
ABZL
Type Private
Industry Financial Services
Founded 2005
Headquarters 8th Floor, ZB Life Towers
Sam Nujoma Street
at Jason Moyo Avenue
Harare, Zimbabwe
Key people Florence Gowora
Chief Executive Officer
Products Loans, Checking, Savings, Investments, Debit Cards
Total assets US$40 million (H1:2012)
Employees 304 (2011)
Website Homepage

Allied Bank Zimbabwe Limited, commonly known simply as Allied Bank, is a commercial bank in Zimbabwe. It is one of the commercial banks in the country, licensed by the Reserve Bank of Zimbabwe, the national banking regulator.[1]

Overview[edit]

The bank is a small financial services provider in Zimbabwe, serving large corporations, small-to-medium enterprises (SMEs), as well as individuals. As of June 2012, its total asset valuation was quoted at US$40 million. At that time its shareholder's equity was estimated at US$18 million.[2]

History[edit]

Allied Bank was established in 2005 as Zimbabwe Allied Banking Group (ZABG). At that time, the assets and some of the liabilities of Barbican Bank Limited, Trust Banking Corporation and Royal Bank Zimbabwe were merged to form ZABG. The three banks were in financial distress at the time. In September 2010, the RBZ reversed itself and re-issued the commercial banking licenses of the three banks that had been closed. ZABG also retained its banking license. In February 2013, ZABG rebranded to its current name.[3]

Ownership[edit]

The shares of stock of Allied Bank are privately held by corporate entities, as illustrated in the table below:[4]

Allied Bank Zimbabwe Limited Stock Ownership
Rank Name of Owner Percentage Ownership
1 Allied Fund of Mauritius 75.0
2 Trebor & Khays of Zimbabwe 25.0
Total 100.00

Branch Network[edit]

As of October 2013, ZABG maintains its headquarters on the 8th Floor, ZB Life Towers, Sam Nujoma Street at Jason Moyo Avenue, in Harare, Zimbabwe's capital and largest city. As of December 2011, the bank maintained 22 networked branches in all parts of the country.[5] At the time, the bank's customers exceeded 50,000.[6]

Governance[edit]

The Managing Director of the bank is Florence Gowora.

See also[edit]

References[edit]

External links[edit]