The headquarters and main branch of the bank are located in Barclay House, at the corner of Jason Moyo Street and First Street, in downtown Harare, the largest city and capital of Zimbabwe.[4] The geographical coordinates of the headquarters of First Capital Bank Zimbabwe are:17°49'50.0"S 31°02'59.0"E (Latitude:-17.830556; Longitude:31.049722).[5]
Overview
The bank is a large financial services provider in Zimbabwe, serving large corporations, small-to-medium enterprises (SMEs), as well as individuals. As of December 2018[update], its total asset base was valued at US$698,744,000, with shareholders' equity of US$116,503,000.[6]
History
Barclays Bank Zimbabwe (BBZ) was established in 1912, and it operated continuously until 2018. As of October 2017, BBZ employed in excess of 700 permanent staff, in a commercial banking network of 26 branches in all large urban areas in the country.[7] In October 2017, it was announced that First Merchant Bank Malawi had purchased a controlling interest in BBZ, for an undisclosed consideration.[7] Under the terms of the sale, the bank was given permission to continue the use of the Barclays name for up to three years, before rebranding.[8]
During the 2008–2012 time frame, the bank employed a maximum of 1,423 employees in January 2008, but the payroll was "rationalized" to about 700, by the time FMB Capital Holdings Plc acquired the bank.[9]
In October 2018, the bank rebranded from Barclays Bank of Zimbabwe to First Capital Bank Zimbabwe Limited, to reflect its current shareholding.[10]
In March 2019, the bank migrated from the Barclays banking system to a new IT banking system.[11]
Ownership
First Capital Bank Zimbabwe Limited (FCBZL), is a subsidiary of FMB Capital Holdings Plc, a Mauritius-based financial services conglomerate, with subsidiaries in several Southern African countries, including Botswana, Malawi, Mozambique, Zambia, and Zimbabwe. The shares of stock of FCBZL are listed on the Zimbabwe Stock Exchange. The major shareholders in the bank are depicted in the table below, as of October 2017.[7]
Absa Group Limited, commonly known simply as Absa and formerly the Amalgamated Banks of South Africa (ABSA) until 2005 and Barclays Africa Group Limited until 2018, is a multinational banking and financial services conglomerate based in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange. It offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management and bank assurances.
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 33 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers. It also maintains subsidiaries in Eastern and Southern Africa. ETI has an affiliate in France, and representative offices in China, Dubai, South Africa, and the United Kingdom.
Access Bank Botswana, is a commercial bank formerly known as BancABC Botswana, that is headquartered in Gaborone, Botswana. In October 2021, Access Bank Group concluded the acquisition of 78.15 percent shareholding in the stock of the erstwhile BancABC Botswana. The bank subsequently rebranded to its current name to reflect its shareholding. The shares of stock of Access Bank Botswana are traded on the Botswana Stock Exchange, under the symbol: ACCESS. The company shareholding amounting to 21.85 percent that is not controlled by Access Bank Group is free-floating on the BSE.
First Capital Bank Botswana Limited, formerly known as Capital Bank, is a commercial bank in Botswana, licensed by the Bank of Botswana, the central bank and national banking regulator. It is a subsidiary of FMBCapital Holdings Plc, a Mauritius-based financial services conglomerate, whose shares of stock are listed on the Malawi Stock Exchange and has subsidiaries in Botswana, Malawi, Mozambique, Zambia and Zimbabwe.
Cavmont Bank Limited is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.
First Capital Bank Malawi Plc, formerly known as First Merchant Bank Plc, is a commercial bank in Malawi. It is licensed by the Reserve Bank of Malawi, the central bank and national banking regulator. It is a subsidiary of FMB Capital Holdings.
Prime Bank Kenya (PBKL) is a commercial bank in Kenya, licensed and supervised by the Central Bank of Kenya (CBK), the national banking regulator.
FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.
Standard Chartered Zambia, officially Standard Chartered Bank Zambia Plc, commonly known as is a Stanchart Zambia, is a commercial bank in Zambia and a subsidiary of Standard Chartered. It is licensed by the Bank of Zambia, the central bank and national banking regulator.
Absa Bank Kenya Plc, formerly Barclays Bank Kenya Limited, is a commercial bank in Kenya and a subsidiary of South Africa-based Absa Group Limited. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
Atlas Mara Limited, formerly referred to as Atlas Mara Co-Nvest Limited, is a financial services holding company formed to undertake the acquisition of target banks in Africa.
MCB Group Limited is a financial services holding company. Its headquarters is located in Port Louis, Mauritius, with subsidiaries and investments in Mauritius, France, India, Madagascar, Maldives, Mayotte, Mozambique, Réunion, Seychelles and South Africa.
Absa Bank Botswana, formerly known as Barclays Bank of Botswana Limited, is a commercial bank in Botswana, licensed by the Bank of Botswana, the country's central bank and national banking regulator.
Absa Bank Mauritius Limited (ABML), formerly known as Barclays Bank Mauritius Limited, is a commercial bank in Mauritius, licensed by the Bank of Mauritius, the country's central bank and national banking regulator.
FMBCapital Holdings Plc, also referred to as First Capital Bank Group, is a financial services holding company based in Mauritius. It operates commercial banks in the Southern African countries of Botswana, Malawi, Mozambique, Zambia and Zimbabwe, which trade as First Capital Bank.
First Capital Bank Zambia Limited, is a commercial bank in Zambia that is licensed by the Bank of Zambia, the central bank and national banking regulator. It is a subsidiary of FMBCapital Holdings Plc, a financial services conglomerate, based in Mauritius, whose shares of stock are listed on the Malawi Stock Exchange and has subsidiaries in Botswana, Malawi, Mozambique, Zambia and Zimbabwe.
First Capital Bank Mozambique (FCBM) is a commercial bank in Mozambique. It is licensed by the Bank of Mozambique, the central bank and national banking regulator.
Botswana Insurance Holdings Limited is an investment, retirement, and insurance group that maintains its headquarters in Botswana and operates through three subsidiaries and holds a stake in a number of associate companies. BIHL Group was established in 1975 and has been listed on the Botswana Stock Exchange since 1991.
NICO Holdings plc is a diversified financial services group and is listed on the Malawi Stock Exchange.
Hitesh Anadkat is a Malawian businessman, investor and philanthropist. He is the founder of the African banking group FMB Capital Holdings.
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