Ecobank Zimbabwe Limited (EZW) is a commercial bank in Zimbabwe. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe and a subsidiary of Togo-based Ecobank.
Ecobank Zimbabwe is a small financial services provider, serving large corporate clients, upscale retail customers and medium to large business enterprises. Its services include personal banking, business banking, global banking and agricultural finance. , the bank's shareholders' equity was estimated at US$42.8 million, and total assets were valued at US$120.2 million.
History 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 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. The Reserve Bank of Zimbabwe granted EBZ a commercial banking license, effective 15 May 2012.
Ownership 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. Other shareholders in the Zimbabwean subsidiary are shown in the table below:
+ Ecobank Zimbabwe stock ownershipRank Name of ownerPercentage ownership1Ecobank Transnational62.002Consortium of Zimbabwean investors38.00 Total100.00
Branch network As of June 2024, the bank maintains a network of 12 operational branches, at the following locations:
Mutare Branch - 2A Fidelity Centre, Herbert Chitepo Street, Mutare Borrowdale Branch & Head Office - 4 Piers Road, Borrowdale, Harare Samora Machel Branch - 137 Samora Machel Avenue, Harare Msasa Branch - Shop 3, The Colonnade, 70 Mutare Road, Msasa, Harare Southerton Branch - Highfield Junction, Corner Paisley Rd/Highfield Rd, Southerton, Harare Graniteside Branch - 106 Seke Road, Graniteside, Harare Nelson Mandela Branch - 35 Nelson Mandela Avenue, Harare Bindura Branch - 57 Robert Mugabe Street, Mutare Kwekwe Branch - 61 Calvados Building, Robert Mugabe Way, Kwekwe Gweru Branch - 6th Street, Gweru Bradfield Branch - Stand 16433, Shops 3&4, Zonkizizwe Shopping Centre, Hillside Road, Bradfield, Bulawayo Parkade Centre Branch - 5 Parkade Centre, Fife Street at 9th Avenue, Bulawayo
See also
List of banks in Zimbabwe Economy of Zimbabwe
References
External links Website of Ecobank Zimbabwe Shareholding In Ecobank Zimbabwe