FBC Bank

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.[3]

FBC Bank

Type	Public Company
Traded as	ZIM:FBCH
Industry	Banking
Founded	August 1997 (1997-08)
Headquarters	Harare, Zimbabwe
Key people	Herbert Nkala Group Chairman John Mushayavanhu Group Chief Executive
Products	Loans, Savings, Investments, Debit Cards, Credit Cards, Mortgages
Revenue	:Pretax:US$16.6 million (2017)[1]
Total assets	US$558.1 million (2017)[1]
Number of employees	390 (2017)[2]
Website	www.fbc.co.zw

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.[2] 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).[4]

Overview

As of December 2017, 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.[1] 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.[5]

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:[2]

FBC Holdings Limited Subsidiaries

Rank	Name of Subsidiary	Asset Value	Core Capital	Notes
1	FBC Bank Limited	US$558.1 million	US$75.2 million	Commercial Bank
2	FBC Building Society	US$129.9 million	US$47.4 million	Building Society
3	Microplan Financial Services Limited	US$19.8 million	US$9.5 million	Microfinance Institution
4	FBC Securities Limited			Brokerage Services
5	FBC Reinsurance Limited			Reinsurance
	Total	US$712.4 million	US$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.[2]

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.[6]

Shareholding in FBC Holdings Limited

Rank Shareholder Percentage Ownership 1 National Pension Scheme of Zimbabwe 35.13 2 Shorecap II Limited–NNR 7.31 3 Stanbic Nominees–NNR 5.21 4 Tirent Investments Private Limited 4.73 5 Cashgrant Investments Private Limited 4.11 6 Local Authorities Pension Fund 3.32 7 Stanbic Nominees Private Limited 3.24 8 FBC Holdings Limited 3.17 9 SCB Nominees 1.75 10 Vidryl International Private Limited 1.70 11 Others 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[7] 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 FBC Holdings (28 March 2018). "FBC Holdings Limited: Audited Financial Results For The Year Ended 31 December 2017" (PDF). Harare: FBC Holdings Limited. Retrieved 14 May 2018. Reserve Bank of Zimbabwe (14 May 2018). "Profile of FBC Bank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 14 May 2018. Reserve Bank of Zimbabwe (14 May 2018). "List of Registered Banking Institutions". Harare: Reserve Bank of Zimbabwe. Retrieved 14 May 2018. Google (4 May 2018). "Location of the Headquarters of FBC Bank Limited" (Map). Google Maps. Google. Retrieved 4 May 2018. Mullan, Laura. "How FBC Bank is disrupting the Zimbabwean banking sector with technological ingenuity". Gigabit Magazine. San Diego. FBC Holdings (7 June 2017). "FBC Holdings Limited: Annual Report for the Year Ended 31 December 2016" (PDF). Harare: FBC Holdings Limited. Retrieved 15 May 2018. Administrator (8 September 2010). "FBC Bank opens Msasa Branch – Another Milestone". Harare: Africa Business Communities Quoting Africa Banking Network. Retrieved 14 May 2018. 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.