First Capital Bank Limited

Barclays Bank of Zimbabwe
Public
Traded as ZSE: FCAZW
Industry Financial services
Founded 1912 (1912)
Headquarters Harare, Zimbabwe
Key people
 Anthony Mandiwanza
Chairperson[1]
Sam Matsekete
Managing Director[2]
Products Loans, transaction accounts, savings, investments, debit cards
Revenue IncreaseAftertax:US$10.9 million (2016)[3]
Total assets US$$476 million (2017)[3]
Number of employees
 700+[3] (2017)
Website zw.barclays.com

First Capital Bank Limited, formerly known as Barclays Bank of Zimbabwe, (BBZ) is a universal bank in Zimbabwe. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.[4] The bank is controlled by the Mauritius-based banking group FMB Capital Holdings.[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, he largest city and capital of Zimbabwe.[5] The geographical coordinates of the headquarters of Barclays Bank of Zimbabwe are: 17°49'54.0"S, 31°02'50.0"E (Latitude:-17.831667; Longitude:31.047222).[6]

Overview

The bank is a medium-sized financial services provider in Zimbabwe, serving large corporations, small-to-medium enterprises (SMEs), as well as individuals. As of December 2016, its total asset base was valued at US$476 million.[3] At that time, its shareholders' equity was valued at US$65 million.[7]

History

Barclays Bank Zimbabwe was established in 1912, and has operated continuously since.[3] 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.[3][8] In October 2017, it was announced that First Merchant Bank Malawi had purchased a controlling interest in BBZ, for an undisclosed figure.[8] Under the terms of the sale, the bank will continue to use the Barclays name for up to another three years, before it rebrands.[1]

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 re-branded from Barclays Bank of Zimbabwe to First Capital Bank Limited, to reflect its current shareholding.[10]

Ownership

BBZ 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 stock of Barclays Bank Zimbabwe, is 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

Graduate program

Barclays Bank Zimbabwe runs a prestigious 12 to 18 month graduate program run annually as part of its group-wide graduate recruitment program. Graduates who make the cut are availed with opportunities to sharpen their banking skills and further their career inside the bank.[11]

Branches

As of May 2018, Barclays Bank Zimbabwe maintained a network of branches at the locations listed below.[5]

  1. First Street Branch: Barclay House, Jason Moyo Street at First Street, Harare Main Branch
  2. Agribusiness Branch: 2 Premium Close, Mt Pleasant, Harare
  3. Corporate Banking Centre: Birmingham Road at Paisley Road, Southerton, Harare
  4. Avondale Branch: King George Road, Avondale, Harare
  5. Borrowdale Branch: TM Supermarket Complex, Borrowdale Road, Borrowdale, Harare
  6. Cripps Road Branch: 31A Cripps Road, Kelvin Corner, Harare
  7. Highlands Branch: Enterprise Road, Highlands, Harare
  8. Pearl House Branch: First Street at Samora Machel Avenue, Harare
  9. Harare Street Branch: 118 Harare Street, Harare
  10. Msasa Branch: 120–121 Mutare Road, Msasa, Harare
  11. Main Street Branch: 100 Main Street, Bulawayo
  12. Belmont Branch: 16 Plumtree Road, Belmont, Bulawayo
  13. Bulawayo Affluent Centre: 97A Robert Mugabe Way, Bulawayo
  14. Beitbridge Branch: 348 Justia Road, Beitbridge
  15. Bindura Branch: 25 Main Street, Bindura
  16. Chinhoyi Branch: 5308 Magamba Way, Chinhoyi
  17. Chiredzi Branch: 57 Chilonga Drive, Chiredzi
  18. Gokwe Branch: Stand 972 Gokwe Growth Point, Gokwe
  19. Gweru Branch: Main Street at Robert Mugabe Way, Gweru
  20. Kadoma Branch: Stand 156, Herbert Chitepo Road, Kadoma
  21. Kwekwe Branch: 32 North Mandela Way, Kwekwe
  22. Marondera Branch: Hotel Street at The Green, Marondera
  23. Masvingo Branch: Robert Mugabe Street at Takawira Avenue, Masvingo
  24. Mutare Branch: 90 H. Chitepo Street, Mutare
  25. Victoria Falls Branch: 254 Livingstone Way, Victoria Falls
  26. Zvishavane Branch: Stand 22–23 Shabani Township, Zvishavane.

See also

References

  1. 1 2 Business Writer (14 October 2017). "Barclays Deal Sealed". Zimbabwe Daily News. Harare. Retrieved 11 May 2018.
  2. ↑ Mpofu, Bernard (10 November 2017). "Barclays boots out Guvamatanga". Zimbabwe Independent. Harare. Retrieved 12 May 2018.
  3. 1 2 3 4 5 6 7 Martin Arnold, and Joseph Cotterill (1 June 2017). "Barclays sells Zimbabwe operation to Malawi lender". Financial Times. London. Retrieved 12 May 2018.
  4. ↑ Reserve Bank of Zimbabwe (12 May 2018). "List of Registered Banking Institutions". Harare: Reserve Bank of Zimbabwe. Retrieved 12 May 2018.
  5. 1 2 Barclays Bank of Zimbabwe (12 May 2018). "The Branch Network of Barclays Bank of Zimbabwe". Harare: Barclays Bank of Zimbabwe. Retrieved 12 May 2018.
  6. ↑ Google (12 May 2018). "Location of the Headquarters of Barclays Bank of Zimbabwe, Jason Moyo Street, Harare" (Map). Google Maps. Google. Retrieved 12 May 2018.
  7. 1 2 Corporate News (16 October 2017). "FMBCH–Barclays Zimbabwe deal set to go ahead". Blantyre: FMB Capital Holdings. Retrieved 12 May 2018.
  8. 1 2 Mpofu, Bernard (13 October 2017). "Barclays employees to get 15% share". Zimbabwe Independent. Harare. Retrieved 12 May 2018.
  9. ↑ Kachembere, John (10 October 2017). "Barclays leaders key to transition says Mandiwanza". The Financial Gazette. Harare. Retrieved 12 May 2018.
  10. ↑ Vinga, Alois (6 October 2018). "Zimbabwe: Barclays Changes Name to First Capital Bank". London: NewZimbabwe.com via AllAfrica.com. Retrieved 10 October 2018.
  11. ↑ Barclays Bank of Zimbabwe (12 May 2018). "Barclays Pan Africa Graduate Development Programme". Harre: Barclays Bank of Zimbabwe. Retrieved 12 May 2018.
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