Metbank

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Metbank
Private
Industry Financial Services
Founded 1999; 19 years ago (1999)
Headquarters Harare, Zimbabwe
Key people
Wilson Manase
Chairman
Belmont Ndebele
Chief Executive Officer
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue IncreaseAftertax:US$$660,288 (2016)[1]
Total assets US$$200.7 million (2016)[1]
Number of employees
251 (2018)[2]
Website Homepage

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]

Location[edit]

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[edit]

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 an innovative leader in the country 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[edit]

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
Rank Shareholder Percentage Ownership
1 Loita Finance Holdings Limited 60.00
2 Blisford Investments Private Limited 10.00
3 Crudge Investments Private Limited 10.00
4 Metropolitan Bank Trust 7.20
5 Rhinemead Investments Private Limited 6.40
6 Knopfler Investments Private Limited 2.80
7 Equestrian Trading Private Limited 2.80
8 CAI Pension Fund 0.80
Total 100.00

Branch network[edit]

As of May 2018, Metbank maintains a network of branches at the following locations:[6]

  1. Main Branch: Metropolitan House, 3 Central Avenue, Harare
  2. Bulawayo Branch: 4 East End Building, Corner of Robert Mugabe Avenue and 9th Avenue, Bulawayo
  3. Chitungwiza Branch: 16110 Makoni Shopping Centre, Seke
  4. Gweru Branch: 66 Third Street, Gweru
  5. Mutare Branch: Shop 1, Zimre Centre, Corner of Herbert Chitepo Street and 5th Street, Mutare

Governance[edit]

The chairman of the bank's board of directors is Wilson Manase, a non-executive director. The managing director and chief executive officer is Belmont Ndebele.[7]

See also[edit]

References[edit]

  1. ^ a b c Charles Rukuni (3 April 2017). "Metbank Zimbabwe profit doubles". Harare: Zimbabwe Insider. Retrieved 15 May 2018. 
  2. ^ a b c 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. ^ Metbank Limited. "Annual Report and Audited Financial Statements for the Year ended 31 December 2016" (PDF). Harare: Metbank Zimbabwe Limited. Retrieved 5 May 2018. 

External links[edit]