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.
As of June 2013, FBC Bank was a medium-sized banking institution, whose total asset valuation was estimated at US$451 million. Following the merger of the bank with FBC Building Society, a year earlier, the bank's shareholders' equity was valued at US$46 million.
History
The bank was established in 1997.
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.
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.
Ownership structure
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 the following subsidiaries:
- FBC Bank Limited - 100% shareholding - Merged with FBC Building Society in 2012.
- FBC Reinsurance Limited - 100% shareholding
- Eagle Insurance Limited - 72.5% shareholding
- FBC Securities Limited - 100% shareholding
Branch network
FBC Bank maintains branches at the following locations:
- Head Office - 45 Nelson Mandela Avenue, Harare
- Samora Machel Avenue Branch - 76 Samora Machel Avenue, Harare
- Nelson Mandela Avenue Branch - 34 Nelson Mandela Avenue, Belvedere, Harare
- Msasa Branch - 104 Mutare Road, Msasa, Harare
- FBC Private Bank Branch - 2 Lanark Road, Belgravia, Harare
- Southerton Branch - 11 Highfields Junction Shops, Southerton, Harare
- Bulawayo Branch - 108 Jason Moyo Avenue, Bulawayo
- International Airport Branch - Harare International Airport
- Mutare Branch - 50B Herbert Chitepo Street, Mutare
- Zvishavane Branch - Robert Mugabe Way, Zvishavane
- Kwekwe Branch - Robert Mugabe Way, Kwekwe
- Beitbridge Branch - NSSA Complex, Beitbridge
- Chitungwiza Branch - 197 Tilcor Township, Seke, Chitungwiza
- Victoria Falls Branch - Shops 4&5 Galleria Complex, Victoria Falls
- Bulawayo Private Bank Branch - 2nd Floor, FBC House, 108 Jason Moyo Avenue, Bulawayo
- Graniteside Branch - 1 Crawford Graniteside Off Seke Road Harare
See also
- List of banks in Zimbabwe
- Reserve Bank of Zimbabwe
- Economy of Zimbabwe
References
