FBC Bank, whose full name is FBC Bank Limited, is a commercial bank in Zimbabwe. It is licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.
Location The main branch and headquarters of the bank are located on the 6th Floor of the FBC Centre, at 45 Nelson Mandela Avenue, in Harare, the capital and largest city of Zimbabwe. The geographical coordinates of this bank's headquarters are: 17°49'46.7"S, 31°02'46.7"E (Latitude:-17.829639; Longitude:31.046306).
Overview , FBC Bank was a medium-sized banking institution, whose total asset valuation was US$558.1 million, and shareholder's equity of US$77.9 million. The bank is very active in the digital and mobile banking arena. This has become very pertinent in the current environment, where the country has adopted a multi-currency system; using the South African Rand, the US dollar, Euro and others.
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 subsidiaries, as depicted in the table below:
+ FBC Holdings Limited Subsidiaries Rank Name of Subsidiary Asset ValueCore Capital Notes 1 FBC Bank Limited US$558.1 millionUS$75.2 millionCommercial Bank 2 FBC Building Society US$129.9 millionUS$47.4 millionBuilding Society 3 Microplan Financial Services LimitedUS$19.8 million US$9.5 millionMicrofinance Institution 4 FBC Securities Limited Brokerage Services 5 FBC Reinsurance Limited Reinsurance TotalUS$712.4 millionUS$144.2 million
History The bank was established as First Banking Corporation Limited, in 1997. In 2004, the bank was wholly acquired by FBC Holdings Limited, a diversified financial services conglomerate involved in banking, insurance, brokerage, advisory and asset management. Following the acquisition, the bank rebranded to FBC Bank Limited.
Ownership structure The bank is a 100 percent subsidiary of FBC Holdings Limited. The investors in FBC Holdings were as listed in the table below, as of 31 December 2016.
+ Shareholding in FBC Holdings Limited Rank Shareholder Percentage Ownership1National Pension Scheme of Zimbabwe 35.132Shorecap II Limited–NNR7.313Stanbic Nominees–NNR5.214Tirent Investments Private Limited4.735Cashgrant Investments Private Limited4.116Local Authorities Pension Fund 3.327Stanbic Nominees Private Limited3.248FBC Holdings Limited 3.179SCB Nominees1.7510Vidryl International Private Limited 1.7011Others 30.33 Total 100.00
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 Industrial Area, 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
External links Website of FBC Bank Limited FBC Bank opens SME Departments How FBC bank is disrupting the Zimbabwean banking sector with technological ingenuity As of 5 April 2018.