FBC Bank
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]
| Type | Public Company |
|---|---|
| ZIM:FBCH | |
| Industry | Banking |
| Founded | August 1997 |
| Headquarters | Harare, Zimbabwe |
Key people | Herbert Nkala Group Chairman John Mushayavanhu Group Chief Executive |
| Products | Loans, Savings, Investments, Debit Cards, Credit Cards, Mortgages |
| Revenue |  :Pretax:US$16.6 million (2017)[1] |
| Total assets | US$558.1 million (2017)[1] |
Number of employees | 390 (2017)[2] |
| Website | www |
Location
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.[2] 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).[4]
Overview
As of December 2017, 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.[5]
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:[2]
| 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
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.[2]
Ownership structure
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.[6]
| Shareholding in FBC Holdings Limited | |||||||||||||||||||||||||||||||||||||||
Branch networkFBC Bank maintains branches at the following locations:
See alsoReferences
External links |