Metbank

Metbank, formerly known as Metropolitan Bank of Zimbabwe, is a commercial bank in Zimbabwe. It is licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.[3]

Metbank
Private
IndustryFinancial Services
Founded1999 (1999)
HeadquartersHarare, Zimbabwe
Key people
Wilson Manase
Chairman
Belmont Ndebele
Chief Executive Officer
ProductsLoans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
RevenueAftertax:US$$660,288 (2016)[1]
Total assetsUS$$200.7 million (2016)[1]
Number of employees
251 (2018)[2]
WebsiteHomepage

Location

The headquarters and main branch of Metbank are located in Metropolitan House, at 3 Central Avenue, in Harare the capital and largest city of Zimbabwe.[2] The geographical coordinates of the bank's headquarters are: 17°49'31.0"S, 31°03'02.0"E (Latitude:-17.825278; Longitude:31.050556).[4]

Overview

Metbank serves large corporations, small to medium enterprises (SMEs), as well as individuals. The bank partners with MasterCard to issue debit and credit cards. As of December 2016, Metbank was a medium-sized financial services provider, with an asset base of US$200.7 million, with shareholders' equity of US$55.9 million.[1]

Metbank Limited has been an innovative leader in the country with the introduction of digital banking, branchless banking, and internet banking and agency banking, while keeping the number of brick-and-mortar branches low. As of February 2018, Metbank had a network of banking agents numbering over 150, both inside and outside Zimbabwe. Many of these agents are women and youth, who otherwise would be unemployed.[5]

Ownership

According to the website of the Reserve Bank of Zimbabwe, the major shareholders in the stock of the bank include the following:[2]

Shareholding in Metbank
RankShareholderPercentage Ownership
1Loita Finance Holdings Limited60.00
2Blisford Investments Private Limited10.00
3Crudge Investments Private Limited10.00
4Metropolitan Bank Trust7.20
5Rhinemead Investments Private Limited6.40
6Knopfler Investments Private Limited2.80
7Equestrian Trading Private Limited2.80
8CAI Pension Fund0.80
Total100.00

Branch network

As of May 2018, Metbank maintains a network of branches at the following locations:[6]

  1. Main Branch: Metropolitan House, 3 Central Avenue, Harare
  2. Bulawayo Branch: 4 East End Building, Corner of Robert Mugabe Avenue and 9th Avenue, Bulawayo
  3. Chitungwiza Branch: 16110 Makoni Shopping Centre, Seke
  4. Gweru Branch: 66 Third Street, Gweru
  5. Mutare Branch: Shop 1, Zimre Centre, Corner of Herbert Chitepo Street and 5th Street, Mutare

Governance

The chairman of the bank's board of directors is Wilson Manase, a non-executive director. The managing director and chief executive officer is Belmont Ndebele.[7]

gollark: > “We thought my poor grandmother’s remains had been buried in accordance with her wishes,” growls Elizabeth’s direct descendant, Catherine Gratwick. “Can’t you let her rest in peace? This is her body that you’re messing with. You can’t just irradiate and poison her; you must ask me first! How would you like it if your family’s remains were exhumed and mutilated? You must never use cells from deceased people without the explicit pre-mortem consent of the patient or their relatives. As for granny - I insist that all remaining samples of her be buried, and that you financially compensate her family for the pain and grief you have caused!”
gollark: > Two generations ago, scientists took a biopsy of a tumor from a cancer patient named Elizabeth Gratwick, who died soon after. Without her knowledge or consent, these cells were preserved in the laboratory and proved to be exceptionally stable in replication. As stable cancer cell lines are highly useful for medical research, “ElGr cells” have been sent to and used by scientists all over the world. However, objections are now being raised by Elizabeth’s descendants.
gollark: Now I need to answer a question!
gollark: And top 1% for crime.
gollark: * 0.8%

See also

References
  1. Charles Rukuni (3 April 2017). "Metbank Zimbabwe profit doubles". Harare: Zimbabwe Insider. Retrieved 15 May 2018.
  2. Reserve Bank of Zimbabwe (15 May 2018). "Profile of Metbank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 15 May 2018.
  3. Reserve Bank of Zimbabwe (15 May 2018). "List of Registered Banking Institutions". Harare: Reserve Bank of Zimbabwe. Retrieved 15 May 2018.
  4. Google (15 May 2018). "Location of the Headquarters of Metbank Limited, 3 Central Avenue, Harare" (Map). Google Maps. Google. Retrieved 15 May 2018.
  5. Vhurundiya, Tapiwa (1 February 2018). "Metbank 'branchless' banking sets new tone for innovative banking". Bulawayo: Bulawayo24.com. Retrieved 15 May 2018.
  6. Metbank Limited (15 May 2018). "The Branch Network of Metbank Limited". Harare: Metbank Limited. Retrieved 15 May 2018.
  7. Metbank Limited. "Annual Report and Audited Financial Statements for the Year ended 31 December 2016" (PDF). Harare: Metbank Zimbabwe Limited. Retrieved 5 May 2018.
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