| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 2002[1] |
| Headquarters | Harare, Zimbabwe |
| Key people | Sengiyampula Mlambo Chairman Daniel Sackey Managing Director & CEO |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Website | Homepage |
Ecobank Zimbabwe, is a commercial bank in Zimbabwe.
Contents |
Ecobank Zimbabwe is a small, but growing financial services provider in Zimbabwe, serving large corporate clients, upscale retail customers and medium to large business enterprises. The company’s services include personal banking, business banking, global banking and agricultural finance. As of August 2011[update], the bank is a medium-sized financial services provider in Zimbabwe, with shareholders' equity of US$13.8 million, with targeted expansion to US$20 million, by December 2011.[2]
The bank was established in 2002 as Premier Finance Group, a merchant bank. In January 2011, Ecobank Transnational acquired majority shareholding in Premier Finance Group, at a price of US$10 million. Following the change in ownership, the institution rebranded to Ecobank Zimbabwe in May 2011. It also requested and was granted permission to change its merchant banking license to a commercial banking license.[3]
Ecobank Zimbabwe is a subsidiary of Ecobank Transnational, the Pan African bank with headquarters in Lome, Togo and a presence in over 30 African countries.[4] Other shareholders in the Zimbabwean subsidiary are shown in the table below:[5]
| Ecobank Zimbabwe Stock Ownership | ||||||||||||
Branch networkAs of August 2011, the bank has a network of four operational branches, with three more expected in 2011.[6][7]
GovernanceThe Chairman of the bank is Sengiyampula Mlambo. The Managing Director and Chief Executive Officer is Daniel Sackey. See alsoExternal linksReferences
|