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]
| Private | |
| Industry | Financial Services |
| Founded | 1999 |
| Headquarters | Harare, Zimbabwe |
Key people | Wilson Manase Chairman Belmont Ndebele Chief Executive Officer |
| Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
| Revenue |  |
| Total assets | US$$200.7 million (2016)[1] |
Number of employees | 251 (2018)[2] |
| Website | Homepage |
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]
| Rank | Shareholder | Percentage Ownership |
|---|---|---|
| 1 | Loita Finance Holdings Limited | 60.00 |
| 2 | Blisford Investments Private Limited | 10.00 |
| 3 | Crudge Investments Private Limited | 10.00 |
| 4 | Metropolitan Bank Trust | 7.20 |
| 5 | Rhinemead Investments Private Limited | 6.40 |
| 6 | Knopfler Investments Private Limited | 2.80 |
| 7 | Equestrian Trading Private Limited | 2.80 |
| 8 | CAI Pension Fund | 0.80 |
| Total | 100.00 | |
Branch network
As of May 2018, Metbank maintains a network of branches at the following locations:[6]
- Main Branch: Metropolitan House, 3 Central Avenue, Harare
- Bulawayo Branch: 4 East End Building, Corner of Robert Mugabe Avenue and 9th Avenue, Bulawayo
- Chitungwiza Branch: 16110 Makoni Shopping Centre, Seke
- Gweru Branch: 66 Third Street, Gweru
- 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]
References
- Charles Rukuni (3 April 2017). "Metbank Zimbabwe profit doubles". Harare: Zimbabwe Insider. Retrieved 15 May 2018.
- Reserve Bank of Zimbabwe (15 May 2018). "Profile of Metbank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 15 May 2018.
- Reserve Bank of Zimbabwe (15 May 2018). "List of Registered Banking Institutions". Harare: Reserve Bank of Zimbabwe. Retrieved 15 May 2018.
- Google (15 May 2018). "Location of the Headquarters of Metbank Limited, 3 Central Avenue, Harare" (Map). Google Maps. Google. Retrieved 15 May 2018.
- Vhurundiya, Tapiwa (1 February 2018). "Metbank 'branchless' banking sets new tone for innovative banking". Bulawayo: Bulawayo24.com. Retrieved 15 May 2018.
- Metbank Limited (15 May 2018). "The Branch Network of Metbank Limited". Harare: Metbank Limited. Retrieved 15 May 2018.
- Metbank Limited. "Annual Report and Audited Financial Statements for the Year ended 31 December 2016" (PDF). Harare: Metbank Zimbabwe Limited. Retrieved 5 May 2018.