First Capital Bank Zimbabwe Limited
FormerlyBarclays Bank of Zimbabwe
TypePublic
ZSE: FCAZW
IndustryFinancial services
Founded1912 (1912)
HeadquartersHarare, Zimbabwe
Key people
Patrick Devenish
Chairman[1]
Ciaran McSharry
Acting Managing Director[1]
ProductsLoans, transaction accounts, savings, investments, debit cards
RevenueIncreaseAftertax:
Total assetsUS$700 million (2018)
Number of employees
711[2] (2020)
ParentFMB Capital Holdings
Websitefirstcapitalbank.co.zw

First Capital Bank Zimbabwe Limited, formerly known as Barclays Bank of Zimbabwe, is a commercial bank in Zimbabwe, licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.[2]

The bank is a subsidiary of FMBCapital Holdings Plc, a financial services conglomerate, based in Mauritius with other subsidiaries in Botswana, Malawi, Mozambique, Zambia.[3]

Location

The headquarters and main branch of the bank are located in Barclay House, at the corner of Jason Moyo Street and First Street, in downtown Harare, the largest city and capital of Zimbabwe.[4] The geographical coordinates of the headquarters of First Capital Bank Zimbabwe are:17°49'50.0"S 31°02'59.0"E (Latitude:-17.830556; Longitude:31.049722).[5]

Overview

The bank is a large financial services provider in Zimbabwe, serving large corporations, small-to-medium enterprises (SMEs), as well as individuals. As of December 2018, its total asset base was valued at US$698,744,000, with shareholders' equity of US$116,503,000.[6]

History

Barclays Bank Zimbabwe (BBZ) was established in 1912, and it operated continuously until 2018. As of October 2017, BBZ employed in excess of 700 permanent staff, in a commercial banking network of 26 branches in all large urban areas in the country.[7] In October 2017, it was announced that First Merchant Bank Malawi had purchased a controlling interest in BBZ, for an undisclosed consideration.[7] Under the terms of the sale, the bank was given permission to continue the use of the Barclays name for up to three years, before rebranding.[8]

During the 2008–2012 time frame, the bank employed a maximum of 1,423 employees in January 2008, but the payroll was "rationalized" to about 700, by the time FMB Capital Holdings Plc acquired the bank.[9]

In October 2018, the bank rebranded from Barclays Bank of Zimbabwe to First Capital Bank Zimbabwe Limited, to reflect its current shareholding.[10]

In March 2019, the bank migrated from the Barclays banking system to a new IT banking system.[11]

Ownership

First Capital Bank Zimbabwe Limited (FCBZL), is a subsidiary of FMB Capital Holdings Plc, a Mauritius-based financial services conglomerate, with subsidiaries in several Southern African countries, including Botswana, Malawi, Mozambique, Zambia, and Zimbabwe. The shares of stock of FCBZL are listed on the Zimbabwe Stock Exchange. The major shareholders in the bank are depicted in the table below, as of October 2017.[7]

Barclays Bank of Zimbabwe Stock Ownership
RankName of ownerPercentage ownership
1FMB Capital Holdings Plc of Mauritius42.0
2Private and institutional investors33.0
3BBZ Employee Share Ownership Trust15.0
4Barclays Bank Plc of the United Kingdom10.0
Total100.00

Branches

As of April 2020, First Capital Bank Zimbabwe Limited maintained a network of branches at the following locations.[12]

  1. Agribusiness Branch: 2 Premium Close, Mt Pleasant, Harare
  2. Avondale Branch: King George Road, Avondale, Harare
  3. Beitbridge Branch: 348 Justia Road, Beitbridge
  4. Belmont Branch: 16 Plumtree Road, Belmont, Bulawayo
  5. Bindura Branch: 25 Main Street, Bindura
  6. Borrowdale Branch: TM Supermarket Complex, Borrowdale Road, Borrowdale, Harare
  7. Bulawayo Affluent Centre: 97A Robert Mugabe Way, Bulawayo
  8. Chinhoyi Branch: 5308 Magamba Way, Chinhoyi
  9. Chiredzi Branch: 57 Chilonga Drive, Chiredzi
  10. Corporate Banking Centre: Birmingham Road at Paisley Road, Southerton, Harare
  11. First Street Branch: Barclay House, Jason Moyo Street at First Street, Harare Main Branch
  12. Gokwe Branch: Stand 972 Gokwe Growth Point, Gokwe
  13. Gweru Branch: Main Street at Robert Mugabe Way, Gweru
  14. Harare Street Branch: 118 Harare Street, Harare
  15. Kadoma Branch: Stand 156, Herbert Chitepo Road, Kadoma
  16. Kwekwe Branch: 32 North Mandela Way, Kwekwe
  17. Main Street Branch: 100 Main Street, Bulawayo
  18. Marondera Branch: Hotel Street at The Green, Marondera
  19. Masvingo Branch: Robert Mugabe Street at Takawira Avenue, Masvingo
  20. Msasa Branch: 120–121 Mutare Road, Msasa, Harare
  21. Mutare Branch: 90 H. Chitepo Street, Mutare
  22. Pearl House Branch: First Street at Samora Machel Avenue, Harare.

See also

References

  1. 1 2 "First Capital Bank Zimbabwe Limited: Board of Directors". Harare: First Capital Bank Zimbabwe Limited. 6 April 2020. Retrieved 6 April 2020.
  2. 1 2 Reserve Bank of Zimbabwe (6 April 2020). "Authorized Foreign Exchange Dealers". Harare: Reserve Bank of Zimbabwe. Retrieved 6 April 2020.
  3. ↑ African Financials (18 May 2018). "Profile of FMBCapital Holdings Plc". africanfinancials.com. Retrieved 6 April 2020.
  4. ↑ Barclays Bank of Zimbabwe (12 May 2018). "The Branch Network of Barclays Bank of Zimbabwe". Harare: Barclays Bank of Zimbabwe. Retrieved 12 May 2018.
  5. ↑ Google (6 April 2020). "Location of the Headquarters of First Capital Bank Zimbabwe Limited" (Map). Google Maps. Google. Retrieved 6 April 2020.
  6. ↑ First Capital Bank Zimbabwe Limited (11 April 2019). "Full Year Financial Statement For The 12 Months Ended 31 December 2018" (PDF). First Capital Bank Zimbabwe Limited. Retrieved 6 April 2020.
  7. 1 2 3 Bernard Mpofu (13 October 2017). "Barclays employees to get 15% share". Zimbabwe Independent. Harare. Retrieved 6 April 2020.
  8. ↑ Zimbabwe Daily News Business (14 October 2017). "Barclays Deal Sealed". Zimbabwe Daily News. Harare. Retrieved 6 April 2020. {{cite web}}: |author= has generic name (help)
  9. ↑ John Kachembere (10 October 2017). "Barclays leaders key to transition says Mandiwanza". The Financial Gazette. Harare. Retrieved 6 April 2020.
  10. ↑ Alois Vinga (6 October 2018). "Zimbabwe: Barclays Changes Name to First Capital Bank". London: NewZimbabwe.com via AllAfrica.com. Retrieved 6 April 2020.
  11. ↑ Shingie Lev Muringi (4 March 2019). "Zimbabwe: First Capital Bank Replaces Barclays System". Harare: 263Chat via AllAfrica.com. Retrieved 6 April 2020.
  12. ↑ First Capital Bank Zimbabwe Limited. "Branch Locations of First Capital Bank Zimbabwe Limited". Harare: First Capital Bank Zimbabwe Limited. Retrieved 6 April 2020.

17°49′50″S 31°02′59″E / 17.83056°S 31.04972°E / -17.83056; 31.04972

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