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CBZ Holdings

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CBZ Holdings
Company typePublic
ZSE: CBZ
IndustryFinancial Services
Founded1980
HeadquartersHarare, Zimbabwe
Key people
Luxon Zembe, Group Chairman
Dr. John P. Mangudya, Group Chief Executive
ProductsBanking, Insurance, Investments, Debit Cards, Credit Cards, Mortgages, Wealth Management
RevenueIncrease Aftertax:US$6.36 million (H1:2010)[1]
Total assetsUS$595+ million (2010)
Websitewww.cbz.co.zw

CBZ Holdings, whose full name is CBZ Holdings Limited, is a financial services conglomerate in Zimbabwe. It owns subsidiaries in banking, insurance, investments, wealth management, mortgages and retail finance.

Overview

As of November 2010, Commercial Bank of Zimbabwe Holdings Limited is a large financial services provider in Zimbabwe, with an asset base in excess of US$595 million, and shareholders' equity in excess of US$71.4 million.[2]

History

The flagship business of the Group, CBZ Bank Limited, was founded in 1980. It was taken over by the Government of Zimbabwe in 1991, to avert looming liquidation and was renamed Commercial Bank of Zimbabwe Limited. The company was listed on the Zimbabwe Stock Exchange in 1998. In 2005, the company rebranded, creating CBZ Bank as the main business and CBZ Holdings Limited as the holding company. The member businesses of the Group include the following:[3]

  1. CBZ Bank Limited - Established in 1980
  2. CBZ Asset Management (Pty) Limited - dba Datvest - Established in 2005[4]
  3. CBZ Properties (Pty) Limited - Established in 2006
  4. Optimal Insurance (Pty) Limited - Established in 2006
  5. Beverly Building Society - Acquired in 2007
  6. Trans Continental Equity Growth Fund (Pty) Limited (“TransCon”)
  7. CBZ Building Society - Merged with CBZ Bank in 2010

Ownership

CBZ Holdings Limited is a publicly traded company. Its stock is listed on the Zimbabwe Stock Exchange, where it trades under the symbol: CBZH.[5] The Zimbabwean government remains the Group's largest single investor, although not the majority shareholder.[6][7]

See also

References

  1. ^ June 2010 Interim Financial Statement
  2. ^ "Interim Half-Year Financial Statement June 2010" (PDF).
  3. ^ "History of CBZ Holdings".
  4. ^ About Datvest
  5. ^ "CBZH Is Listed On Zimbabwe Stock Exchange".
  6. ^ "CBZ Holdings To Consolidate This Year".
  7. ^ "Companies In Which Government Has Significant Interests Include: CBZ Holdings".
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