Ecobank Zimbabwe
{{Short description|Commercial bank in Zimbabwe}}
{{Use dmy dates|date=November 2019}}
{{Infobox company
| name = Ecobank Zimbabwe
| logo =
| type = Subsidiary
| company_slogan =
| foundation = {{start date |2002}}[https://web.archive.org/web/20121015034348/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=36583794 Founded In 2002 As Premier Finance Group]
| key_people = Fortune Chisango(Chairman), Moses Kurenjekwa (Managing Director & CEO)
| num_employees =
| assets = US$120.2 million (June 2013)
| revenue = {{profit}} Aftertax:US$1.2 million (H1:2013)
| industry = Financial services
| products = Loans, transaction accounts, Savings, Investments, Debit Cards
| parent = Ecobank
| homepage = {{url |http://www.ecobank.com/}}
}}
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 in Zimbabwe, serving large corporate clients, upscale retail customers and medium to large business enterprises. The company’s services include personal banking, business banking, global banking and agricultural finance. {{asof|June 2013}}, the bank's shareholders' equity was estimated at US$42.8 million, and total assets were valued at US$120.2 million.{{Cite news|url=http://allafrica.com/stories/201308270455.html?viewall=1|title=Zimbabwe: Good Times Roll for Ecobank|date=2013-08-27|work=The Herald (Harare)|access-date=2017-09-06}}
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 a price of 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.{{Cite news|url=http://allafrica.com/stories/201105091083.html|title=Zimbabwe: Premier Finance Group Rebrands|last=Ndlela|first=Dumisani|date=2011-05-09|work=Financial Gazette (Harare)|access-date=2017-09-06}} The Reserve Bank of Zimbabwe granted EBZ a commercial banking license, effective 15 May 2012.{{Cite news|url=http://allafrica.com/stories/201205230615.html|title=Zimbabwe: Ecobank Goes Into Commercial Banking|date=2012-05-23|work=The Herald (Harare)|access-date=2017-09-06}}
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.{{Cite news|url=http://allafrica.com/stories/201106291452.html|title=Ecobank Opens New Head Office in Lome, Togo|date=2011-06-29|work=Ecobank (Lome)|access-date=2017-09-06}} Other shareholders in the Zimbabwean subsidiary are shown in the table below:{{Cite news|url=http://allafrica.com/stories/201108051010.html|title=Zimbabwe: We're Fully Capitalised - Ecobank|last=Madera|first=Bright|date=2011-08-05|work=The Herald (Harare)|access-date=2017-09-06}}
| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
|+ Ecobank Zimbabwe Stock Ownership ! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership | ||
| 1 | Ecobank Transnational | 62.00 |
| 2 | Consortium of Zimbabwean Investors | 38.00 |
| Total | 100.00 |
Branch network
As of June 2024, the bank maintains a network of 12 operational branches, at the following locations:{{cite web | url=https://ecobank.com/zw/personal-banking/contact-us/locator?brancharea=Mutare&availbranch=Mutare%20Branch | title=Ecobank - Locator }}
- Mutare Branch - 2A Fidelity Centre, Herbert Chitepo Street, Mutare
- Borrowdale Branch & Head Office - Block A, Sam Levy’s Office Park, 2 Piers Road, Borrowdale, Harare
- Samora Machel Branch - 137 Samora Machel Avenue, Harare
- Msasa Branch - Shop 3, The Collonade, 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 - Beverly House, Groundfloor, 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
References
{{reflist}}
External links
- [http://www.ecobank.com/countryinfo.aspx?cid=74136 Website of Ecobank Zimbabwe]
- [http://allafrica.com/stories/201201131405.html Shareholding In Ecobank Zimbabwe]
Category:Banks established in 2002
Category:2002 establishments in Zimbabwe