FBC Bank
 | |
| Company type | Public Company |
|---|---|
| ZSE:FBC.ZW | |
| Industry | Financial services |
| Founded | August 1997 |
| Headquarters | Harare, Zimbabwe |
Key people | Morgan Nzwere Chairman Webster Rusere Managing Director |
| Products | Banking, Insurance, Investments, Mortgages |
| Revenue |  :Pretax:ZWL$2.7 b (2021)[1] |
Number of employees | 519 (2022) |
| Website | www |
| Footnotes / references [2] | |
FBC Bank, whose full name is FBC Bank Limited, is a commercial bank in Zimbabwe. It is licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.[3]
Location
[edit]The main branch and headquarters of the bank are located on the 6th Floor of the FBC Centre, at 45 Nelson Mandela Avenue, in Harare, the capital and largest city of Zimbabwe.[4] The geographical coordinates of this bank's headquarters are: 17°49'46.7"S, 31°02'46.7"E (Latitude:-17.829639; Longitude:31.046306).[5]
Overview
[edit]As of December 2017[update], FBC Bank was a medium-sized banking institution, whose total asset valuation was US$558.1 million, and shareholder's equity of US$77.9 million.[1] The bank is very active in the digital and mobile banking arena. This has become very pertinent in the current environment, where the country has adopted a multi-currency system; using the South African Rand, the US dollar, Euro and others.[6]
FBC Bank is a 100% subsidiary of First Banking Corporation Holdings Limited, commonly known as FBC Holdings Limited, a publicly traded financial services company whose shares are listed on the Zimbabwe Stock Exchange, under the symbol: FBCH. The holding company owns subsidiaries, as depicted in the table below:[4]
| Rank | Name of Subsidiary | Asset Value | Core Capital | Notes |
|---|---|---|---|---|
| 1 | FBC Bank Limited | US$558.1 million | US$75.2 million | Commercial Bank |
| 2 | FBC Building Society | US$129.9 million | US$47.4 million | Building Society |
| 3 | Microplan Financial Services Limited | US$19.8 million | US$9.5 million | Microfinance Institution |
| 4 | FBC Securities Limited | Brokerage Services | ||
| 5 | FBC Reinsurance Limited | Reinsurance | ||
| Total | US$712.4 million | US$144.2 million |
History
[edit]The bank was established as First Banking Corporation Limited, in 1997. In 2004, the bank was wholly acquired by FBC Holdings Limited, a diversified financial services conglomerate involved in banking, insurance, brokerage, advisory and asset management. Following the acquisition, the bank rebranded to FBC Bank Limited.[4]
Ownership structure
[edit]The bank is a 100 percent subsidiary of FBC Holdings Limited. The investors in FBC Holdings were as listed in the table below, as of 31 December 2016.[7]
| Rank | Shareholder | Percentage Ownership |
|---|---|---|
| 1 | National Pension Scheme of Zimbabwe | 35.13 |
| 2 | Shorecap II Limited–NNR | 7.31 |
| 3 | Stanbic Nominees–NNR | 5.21 |
| 4 | Tirent Investments Private Limited | 4.73 |
| 5 | Cashgrant Investments Private Limited | 4.11 |
| 6 | Local Authorities Pension Fund | 3.32 |
| 7 | Stanbic Nominees Private Limited | 3.24 |
| 8 | FBC Holdings Limited | 3.17 |
| 9 | SCB Nominees | 1.75 |
| 10 | Vidryl International Private Limited | 1.70 |
| 11 | Others | 30.33 |
| Total | 100.00 |
Branch network
[edit]FBC Bank maintains branches at the following locations:
- Head Office - 45 Nelson Mandela Avenue, Harare
- Samora Machel Avenue Branch - 76 Samora Machel Avenue, Harare
- Nelson Mandela Avenue Branch - 34 Nelson Mandela Avenue, Belvedere, Harare
- Msasa Branch - 104 Mutare Road, Msasa Industrial Area, Harare[8]
- FBC Private Bank Branch - 2 Lanark Road, Belgravia, Harare
- Southerton Branch - 11 Highfields Junction Shops, Southerton, Harare
- Bulawayo Branch - 108 Jason Moyo Avenue, Bulawayo
- International Airport Branch - Harare International Airport
- Mutare Branch - 50B Herbert Chitepo Street, Mutare
- Zvishavane Branch - Robert Mugabe Way, Zvishavane
- Kwekwe Branch - Robert Mugabe Way, Kwekwe
- Beitbridge Branch - NSSA Complex, Beitbridge
- Chitungwiza Branch - 197 Tilcor Township, Seke, Chitungwiza
- Victoria Falls Branch - Shops 4&5 Galleria Complex, Victoria Falls
- Bulawayo Private Bank Branch - 2nd Floor, FBC House, 108 Jason Moyo Avenue, Bulawayo
- Graniteside Branch - 1 Crawford Graniteside Off Seke Road Harare
See also
[edit]References
[edit]- ^ a b FBC Holdings (28 March 2018). "FBC Holdings Limited: Audited Financial Results For The Year Ended 31 December 2017" (PDF). Harare: FBC Holdings Limited. Retrieved 14 May 2018.
- ^ "FBC Holdings Profile Wealth Hub". 7 August 2023.
- ^ Reserve Bank of Zimbabwe (14 May 2018). "List of Registered Banking Institutions". Harare: Reserve Bank of Zimbabwe. Retrieved 14 May 2018.
- ^ a b c Reserve Bank of Zimbabwe (14 May 2018). "Profile of FBC Bank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 14 May 2018.
- ^ "Location of the Headquarters of FBC Bank Limited" (Map). Google Maps. Retrieved 4 May 2018.
- ^ Mullan, Laura. "How FBC Bank is disrupting the Zimbabwean banking sector with technological ingenuity". Gigabit Magazine. San Diego.
- ^ FBC Holdings (7 June 2017). "FBC Holdings Limited: Annual Report for the Year Ended 31 December 2016" (PDF). Harare: FBC Holdings Limited. Retrieved 15 May 2018.
- ^ Administrator (8 September 2010). "FBC Bank opens Msasa Branch – Another Milestone". Harare: Africa Business Communities Quoting Africa Banking Network. Retrieved 14 May 2018.