CBZ Holdings

Last updated

CBZ Holdings
Type Public
ZSE:  CBZ
Industry Financial services
Founded1980;43 years ago (1980)
Headquarters Harare, Zimbabwe
Key people
 Marc Holtzman
Group Chairman
Blessing Mudavanhu
Group Chief Executive [1]
Products Banking, Insurance, Investments, Debit Cards, Credit Cards, Mortgages, Wealth Management
RevenueIncrease2.svg Aftertax:US$27.84 million (2017) [2]
Total assets US$2.192 billion (2017) [2]
Number of employees
1,947 (2023) [3]
Website 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. [4]

Contents

Location

The headquarters of the financial services conglomerate are located on the 3rd Floor of Union House, at 60 Kwame Nkrumah Avenue, in downtown Harare, the capital and largest city in Zimbabwe. [5] The geographical coordinates of the bank's headquarters are: 17°49'40.0"S, 31°02'55.0"E (Latitude:-17.827778; Longitude:31.048611). [6]

Overview

As of December 2017, CBZ Holdings Limited is a large financial services conglomerate in Zimbabwe, with an asset base in excess of US$2.192 billion, and shareholders' equity in excess of US$309.69 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. [7] The member businesses of the Group are as illustrated in the table below, as at 31 December 2017. [2]

CBZ Holdings Limited Subsidiaries
RankName of OwnerAsset ValuePercentage OwnershipNotes
1 CBZ Bank Limited US$1,991,520,000100%Commercial Bank
2CBZ Life InsuranceUS$18,580,000100%Life Insurance
3CBZ General InsuranceUS$13,220,000100%General Insurance
4CBZ Asset Management (Datvest)US$3,720,000100%Asset Management
Total$2,192,660,000100%

Ownership

CBZ Holdings Limited is a publicly traded company. Its stock is listed on the Zimbabwe Stock Exchange, where it trades under the symbol: CBZ. According to the December 2017 Annual Report of the CBZ Holdings Limited (CBZ Group), the major shareholders in the Group were as listed in the table below: [2]

Shareholding in CBZ Holdings Limited
RankShareholderPercentage Ownership
1CBZ Holdings Limited24.58
2 Government of Zimbabwe 16.01
3 Libyan Foreign Bank 14.06
4National Social Security Authority of Zimbabwe 11.71
5PIM Nominees (Private) Limited6.70
6 Old Mutual Life Association Company Zimbabwe Limited 5.45
7 Stanbic Nominees (Private) Limited–NNR4.34
8PIM Nominees–NNR1.72
9SCB Nominees1.53
10 Stanbic Nominees (Private) Limited 1.42
11Others12.48
Total100.00

See also

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References

  1. ↑ The Herald Staff (29 May 2018). "Zimbabwe: CBZ Appoints New CEO". The Zimbabwe Herald via AllAfrica.com . Harare. Archived from the original on 31 May 2018. Retrieved 31 May 2018.
  2. 1 2 3 4 5 CBZ Holdings (15 March 2018). "Annual Report for the Year Ended 31 December 2017". Harare: CBZ Holdings Limited. Archived from the original on 14 May 2018. Retrieved 13 May 2018.
  3. ↑ "CBZ Holdings Wealth Hub Profile". 7 August 2023.{{cite web}}: CS1 maint: url-status (link)
  4. ↑ Reutors (13 May 2018). "Company Profile of CBZ Holdings Limited". Reuters.com . Retrieved 13 May 2018.
  5. ↑ Reserve Bank of Zimbabwe (30 June 2014). "Profile of CBZ Bank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 13 May 2018.
  6. ↑ Google (13 May 2018). "Location of the headquarters of CBZ Bank Limited" (Map). Google Maps . Google. Retrieved 13 May 2018.
  7. ↑ Reserve Bank of Zimbabwe (30 June 2014). "Profile of CBZ Bank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 13 May 2018.
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