FBC Bank

Ecobank (Uganda)
Public Company
ZIM: FBCH
Industry Financial Services
Founded 1997
Headquarters Harare, Zimbabwe
Key people
 Livingstone Gwata
Group Chief Executive
John Mushayavanhu
Managing Director
Products Loans, Savings, Investments, Debit Cards, Credit Cards, Mortgages
Revenue Increase:Aftertax:US$8.3 million (H1:2013)
Total assets US$451 million (H1:2013)
Website Homepage

FBC Bank, whose full name is FBC Bank Limited, is a commercial bank in Zimbabwe. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe, the national banking regulator.[1]

Overview

As of June 2013, FBC Bank was a medium-sized banking institution, whose total asset valuation was estimated at US$451 million.[2] Following the merger of the bank with FBC Building Society, a year earlier, the bank's shareholders' equity was valued at US$46 million.[3] The bank was established in 1997.[4]

FBC Group

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. In May 2010, FBC Holdings Limited made a rights issue stock offering for US$8 million which was 66% subscribed, raising US$5.28 million used to capitalize subsidiaries.[5] The holding company owns the following subsidiaries:[6]

  1. FBC Bank Limited - 100% shareholding - Merged with FBC Building Society in 2012.
  2. FBC Reinsurance Limited - 100% shareholding
  3. Eagle Insurance Limited - 72.5% shareholding[7]
  4. FBC Securities Limited - 100% shareholding

In August 2012, the bank announced the merger of FBC Bank with FBC Building Society to meet new capital requirements by the Reserve Bank of Zimbabwe.

Branch network

FBC Bank maintains branches at the following locations:[8]

  1. Head Office - 45 Nelson Mandela Avenue, Harare
  2. Samoa Machel Avenue Branch - 76 Samora Machel Avenue, Harare
  3. Nelson Mandela Avenue Branch - 34 Nelson Mandela Avenue, Belvedere, Harare
  4. Msasa Branch - 104 Mutare Road, Msasa, Harare
  5. FBC Private Bank Branch - 2 Lanark Road, Belgravia, Harare
  6. Southerton Branch - 11 Highfields Junction Shops, Southerton, Harare
  7. Bulawayo Branch - 108 Jason Moyo Avenue, Bulawayo
  8. International Airport Branch - Harare International Airport
  9. Mutare Branch - 50B Herbert Chitepo Street, Mutare
  10. Zvishavane Branch - Robert Mugabe Way, Zvishavane
  11. Kwekwe Branch - Robert Mugabe Way, Kwekwe
  12. Beitbridge Branch - NSSA Complex, Beitbridge
  13. Chitungwiza Branch - 197 Tilcor Township, Seke, Chitungwiza
  14. Victoria Falls Branch - Shops 4&5 Galleria Complex, Victoria Falls
  15. Bulawayo Private Bank Branch - 2nd Floor, FBC House, 108 Jason Moyo Avenue, Bulawayo

See also

References

  1. ↑ As of September 2010 Zimbabwe Had Seventeen Licensed Commercial Banks
  2. ↑ 30 June 2013 Financial Data
  3. ↑ Consolidated Shareholders' Equity In August 2012
  4. ↑ FBC Bank Limited Founded In 1997
  5. ↑ FBC US$8 Million Rights Offer Receives 66 Percent Response
  6. ↑ Subsidiaries of FBC Holdings Limited
  7. ↑ FBC Bank Shareholding In Eagle Insurance
  8. ↑ Branches Of FBC Bank

External links