Authorised Dealers

PEOPLE'S OWN SAVINGS BANK

Head Office
Corner Third Street /Central Avenue,
Harare,
Zimbabwe
Telephone: 793831-7,729701,
Fax: 708537,730971
Telex:

Website: www.posb.co.zw

Postal Address
P.O BOX CY 1628,
Causeway,
Harare,
Zimbabwe

Type of bank: Savings Bank

Date of establishment: 1904

History

  • 1904: POSB started operations as the Post Office Saving Bank
  • 1965: Post Office Savings Bank  Act [Chapter 24:10] came into place
  • 1999: People’s Own Savings Bank “POSB/bank” was established as  a corporate body in terms of section 3 of the People’s Own Savings Bank of Zimbabwe Act [Chapter 24:22]
  • 2001: Commercialisation started and resulted into unbundling of Posts & Telecommunications Corporation (PTC) into the following business units: Net-One, Tel-One, Zimpost and POSB.

Ownership: 100% owned by the Government of Zimbabwe

Chairman: Ms. Mathilda Dzumbunu

Chief Executive Officer: Mr. A. Kandlela

Auditors : Comptroller & Auditor General

Number of employees: 453

Number of branches : 34

Number of Agencies : 220 (Zimpost)

                                   18 (Meikles)

Stanbic Bank Limited

Head Office
Stanbic Centre,
59 Samora Machel Avenue,
Harare,
Zimbabwe
Telephone:+263 4-759471-9
Fax: 04-751324
Telex:

Website: www.stanbicbank.co.zw

Postal Address
Box 300,
Harare,
Zimbabwe

Type of bank: Commercial Bank

Date of establishment: 1965

History
Stanbic Bank is a locally registered bank, established in Zimbabwe in 1965 as ANZ Grindlays Bank and became part of the Standard Group in 1992 following the acquisition of the African operations of ANZ Bank.

Ownership: 100% owned by Standard Bank (South Africa)

Chairman: Stanford Moyo

Chief Executive Officer: Joshua Tapambgwa

Auditors : KPMG

Number of employees: 659

Number of branches : 20

Standard Chartered Bank Limited

Head Office
2nd Floor, Old Mutual Centre,
Corner Third Street/Jason Moyo Avenue,
Harare,
Zimbabwe
Telephone: +263 - 4- 253801-7, 752864/8, 752852/9
Fax: +263 - 4- 758076
Telex: 22115 SCBHAR ZW 26090/26325

Website: www.standardchartered.com

Postal Address
P.O.Box 373,
Harare,
Zimbabwe

Type of bank: Commercial Bank

Date of establishment: 1892

History

  • 1853 -Chartered Bank is incorporated in England by the Royal Charter.
  • 1862-Standard Bank is incorporated under the banner Standard Bank of British South Africa Limited.
  • 1892-Standard Bank established a pioneering presence in Zimbabwe (then Southern Rhodesia). The first 'branch' was located in a bell tent in Bulawayo.
  • 1901 -The bank expanded into Malawi
  • 1906-The bank expands operations to Zambia
  • 1911-Operations are extended to Kenya
  • 1962- Standard Bank of South Africa Limited was renamed The Standard Bank Limited, and transferred its South African business to a locally incorporated subsidiary which retained the former name.
  • Standard Bank of South Africa Limited lists on the Johannesburg Stock Exchange
  • 1965-Growth of the bank was boosted by the acquisition of the Bank of West Africa in 1965 with more than 90 branches in Nigeria, Ghana, Sierra Leone and Gambia
  • 1969-Standard Chartered Zimbabwe in its present form arose from a merger of Standard Bank and Chartered Bank in 1969.
  • 1983-In 1983, the bank was locally incorporated. Prior to that, Standard Chartered Bank Zimbabwe Limited operated as a branch. Two other group companies previously operated in Zimbabwe Standard Chartered Merchant Bank of Zimbabwe Limited and Standard Chartered Finance Zimbabwe Limited were registered as financial institutions. The former’s operations were absorbed into the commercial bank and the accepting house licence surrendered. The latter company was disposed off to the Zimbabwe Development Bank (ZDB).

Ownership

  • Standard Chartered Holdings ( Africa ) 88%
  • Standard Chartered Holdings (International) 3%
  • Standard Chartered Bank Plc UK 9%

Chairman: Mr. S. Rushwaya

Chief Executive Officer: Mr. R. Watungwa

Auditors : KPMG Chartered Accountants

Number of employees: 645

Number of branches : 21

Steward Bank Limited

Head Office
Second Floor, 101 Union Avenue Building
101 Kwame Nkrumah Avenue
Harare,
Zimbabwe
Telephone: +263 – 4 – 253 672 / 791 444 / 253 671
Fax: +263 – 4 – 253 673
Telex:

Website: www.stewardbank.co.zw

Postal Address
P. O.Box 5220,
Harare,
Zimbabwe

Type of bank: Commercial Bank

Date of establishment: January 1995

  •  The bank commenced operations as a small micro-finance company, Calmor (Private) Limited.
  • 2000 – as Trustfin. a Finance House.
  • February 2009 - Commercial Banking activities.

History

  • January 1995, The bank commenced operations as a small micro-finance company, Calmor (Private) Limited.
  • 1997, Trust Merchant Bank Limited (TMB) acquired 40% shareholding in Calmor and subsequently changed its name to Trustfin.
  • 2000 - 2004, Trustfin was registered as a finance house in 2000. In 2001, the company was 100% owned by Trust Holdings (THL). Trustfin remained operational when Trust Bank was placed curatorship in 2004.
  • August 2006, TN Financial Holdings (Private) Limited acquired 75% Trustfin equity.
  • March 2008, Trustfin’s licence upgraded to a commercial banking licence.
  • February 2009,  The institution commenced commercial banking activities following a pre-opening inspection by the Reserve Bank.
  • December 2009, TN Holdings is formed after a reverse takeover of Tedco by TN Financial Holdings Limited (TNFHL).
  • January 2010, Tedco changed its name to TN Holdings Limited (TNHL) and is subsequently listed on the Zimbabwe Stock Exchange (ZSE).
  • May 2012, TNHL obtained regulatory approval to demerge TN Bank from the holding company.
  • July 2012, TNHL held an EGM on 5 July 2012 which approved the demerger transaction, listing of the bank separately on the ZSE on 11 July 2012 and changing the holding company’s name to Lifestyle Holdings Limited (LHL). Econet Wireless Zimbabwe Limited (EWZ) injected $20 million capital into TN Bank (which constituted 45% equity in TN Bank).
  • January 2013, Reserve Bank approved TN Bank’s application for the acquisition of the remaining shareholding (55%) in TN Bank by EWZ, through an offer to purchase additional TN Bank shares, resulting in EWZ owning 97.96% of TN Bank.
  • February 2013, TN Bank delisted from the ZSE.
  • June 2013, EWZ acquired the remaining 1.4% shareholding in TN Bank held by minority shareholders resulting in EWZ holding 100% equity in TN Bank Limited.
  • June 2013, Reserve Bank approved the change of name of TN Bank Limited to Steward Bank Limited.

Ownership: Econet Wireless Zimbabwe Limited (EWZ) - 100%

Chairman: Mr. Bernard Chidzero

Chief Executive Officer: Dr. Lance Mambindiani

Auditors : Ernst & Young Chartered Accountants

Number of employees: 325

Number of branches : 9