Top Smart Operating Banking Institutions in Zimbabwe

Agribank

As a successor to the Land Bank, the Agricultural Finance Corporation was created in 1925. It became a commercial bank in 1999. In 2003, the bank was transformed into an agricultural development bank intended to finance farmers in line with the government's land reorganization plans.

BancABC Bank Limited 

ABCH was formed in 1999. In 2006, the shareholders of ABCH resolved to merge the operations of ABC Asset Finance Limited and ABC Securities Limited into the merchant bank i.e.  ABC Bank. The merger of the subsidiaries was based on the need to meet the minimum regulatory capital requirement for merchant banks.

After approval by the Reserve Bank, the bank announced its rebranding to BancABC on 27 April 2009.
Following a pre-opening inspection by the Reserve Bank of Zimbabwe, the bank opened its first commercial banking branch (Heritage House) on 1 December 2009.
CABS
CABS was formed in September 1954 and is a wholly owned subsidiary of Old Mutual Zimbabwe Limited (OMZIL) a company owned by Old Mutual PLC. The OMZIL Group is a financial conglomerate with interests in banking, insurance, real estate, asset management, and custody
CBZ
CBZ Bank Limited is wholly owned by CBZ Holdings Limited, a locally incorporated company listed on the Zimbabwe Stock Exchange. CBZ was founded when the Government of Zimbabwe took over the defunct Bank of Credit and Commerce in 1991. The government assumed 100% ownership of the bank. Following privatization and subsequent listing on the Zimbabwe Stock Exchange in 1998, the bank made a rights issue as part of its recapitalisation programme that resulted in the dilution of government ownership.
ECOBANK ZIMBABWE LIMITED
Commenced operations as Premier Banking Corporation Limited. This followed the conversion of its licence from a discount house, which had operated under the name Premier Discount House since October 2002. The bank changed its name from Premier Banking Corporation to Ecobank Zimbabwe Limited. The bank converted its merchant bank license to commercial bank and commenced commercial banking business. Following the acquisition of Brainworks Capital Management's 29.39% shareholding in Ecobank Zimbabwe Holdings Limited (EZHL) for a purchase consideration of $12.5 million, ETI increased its shareholding in Ecobank Zimbabwe Limited to 99.39%. Following the acquisition of Ecobank Share Ownership Trust's 0.32% stake in Ecobank Zimbabwe Limited, ETI's stake in the bank increased to 100%. FBC
After being acquired by FBC holdings limited in August 2004, First Banking Corporation Limited changed its name to FBC bank after being established in August 1997 as FBC bank limited.
FBC BUILDING SOCIETY
In 1992, Zimbabwe Building Society ("ZBS") was formed. In June 2005, FBC Holdings Ltd ("FBC") acquired a 60% stake in ZBS and National Social Security Authority (NSSA) acquired a 40% stake. FIRST CAPITAL BANK LIMITED
1912; Opened first branch after Bank of Africa was acquired by National bank of South Africa and effectively became Barclays Bank controlled from South Africa. 1993; Barclays was one of the only two banks to have installed ATMs to improve service delivery and by 1993 Barclays had 50 ATMs. 2008-2012; Barclays rationalized its support structures and foot print in line with business levels obtaining which resulted in reduction in full time employees from a peak of 1,423 in January 2008 to around 700 currently.
THE INFRASTRUCTURE DEVELOPMENT BANK OF ZIMBABWE
The Infrastructure Development Bank of Zimbabwe ("IDBZ") was established on 31st August 2005 by an Act of Parliament known as the Infrastructure Development Bank of Zimbabwe Act [Chapter] 24:14]. The Bank was set up as a successor organization to the Zimbabwe Development Bank (“ZDB”), but with an expanded mandate mainly focusing on infrastructure development as the anchor in further stimulating and supporting the economic and social development of Zimbabwe. The bank was primarily set up as a vehicle for the promotion of economic development and growth, and improvement of the living standards of Zimbabweans through the development of infrastructure, which includes but not limited to roads, dams, water reticulation, housing, sewerage, technology, amenities and utilities.
METBANK LIMITED
Metbank Limited (formerly Metropolitan Bank of Zimbabwe Limited) was founded in 1999, with Mr. Enock Kamushinda and the Posts & Telecommunications Corporation Pension Fund (now Communications & Allied Industries Pension Fund, or CAI Pension Fund) as the two founding shareholder. The institution changed its name from Metropolitan Bank of Zimbabwe Limited to Metbank Limited effective 22 May 2012.
NATIONAL BUILDING SOCIETY
National Building Society (NBS) was incorporated on 7 November 2014 in terms of the Companies Act [Chapter 24.03]. The institution was registered as a building society in September 2015 and was authorized to commence operations on 27 April 2016. NBS is a wholly owned subsidiary of the National Social Security Authority (NSSA), a statutory corporate body tasked by the Government to provide social security. NSSA is wholly owned by the Government of Zimbabwe.
NEDBANK
Established in 1956 as MBCA Bank Limited, NEDBANK commenced operations in Zimbabwe in 2003. Following the Nedbank Group Limited's vision to bring uniformity and standardization across the Nedbank Group subsidiaries, the bank changed its name to Nedbank Zimbabwe Limited in 2018.
NMB BANK LIMITED
The bank was registered as an Accepting House under the Banking Act [Chapter 24:20] in June 1993 and converted to a commercial bank in December 1999. NMB Bank was established in July 2000. It is wholly owned by NMBZ Holdings (Private) Limited, which is listed on the Zimbabwe Stock Exchange and a secondary listing on the London Stock Exchange.
(POSB) PEOPLE'S OWN SAVINGS BANK
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.
STANBIC BANK LIMITED
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.
STANDARD CHARTERED BANK LIMITED
1853 -Chartered Bank was incorporated in England by the Royal Charter.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). STEWARD BANK LIMITEDJanuary 1995, The bank commenced operations as a small micro-finance company, Calmor (Private) Limited. December 2009, TN Holdings was 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). 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.

TETRAD INVESTMENT BANK LIMITED
Tetrad Investment Bank Limited was incorporated on 12 June 1995 as Tetrad Securities Limited under registration number 3994/95. The institution commenced operations in 1996 after obtaining a licence to operate as a discount house in terms of the Banking Act [Chapter 24:20]. Tetrad Securities Limited’s discount house licence was converted to a merchant banking licence on 6 March 2009.
THE SMALL AND MEDIUM ENTERPRISES DEVELOPMENT CORPORATION
The Small and Medium Enterprises Development Corporation (SMEDCO) was formed in 1983 through an Act of Parliament and is a parastatal which falls under the Ministry of Small and Medium Enterprises and Co-operative Development. The organization began operations in April 1984. The institution changed its name from Small Enterprises Development Corporation (SEDCO) to Small and Medium Enterprises Development Corporation (SMEDCO) following amendments to the SME Act in February 2014. SMEDCO is a development finance institution which primarily exists to promote the development of micro, small and medium enterprises, and cooperatives in the country, through lending and capacity building.
ZB BANK LIMITED
ZB Bank has its origins in the Netherlands Bank of South Africa which commenced banking operations in 1951. These operations were sold to the Netherlands Bank of Rhodesia in August 1967 and the company changed its name to Rhodesia Banking Corporation Limited in 1972 and then Rhobank in 1979. After the acquisition of a majority shareholding in the company by the Government of Zimbabwe in 1981, the company changed its name to Zimbabwe Banking Corporation Limited. The Bank became a subsidiary of Zimbabwe Financial Holdings Limited (FINHOLD) in 1992 following a restructuring of operations in which non-banking operations were removed from the Bank. The bank was renamed ZB Bank Limited in 2006 following the adoption of a monolithic brand by the group.
ZB BUILDING SOCIETY
ZB Building Society was incorporated in Zimbabwe in 1961 as Founders Building Society and received its Certificate of Registration on 1 July 1961. The institution changed its name from Founders to Intermarket Building Society on 1 October 2002. Intermarket Building Society changed its name to ZB Building Society in September 2008. There is a pending court application brought by Transnational Holdings Limited challenging the acquisition of Intermarket Building Society by ZB Holdings Limited (ZBHL).

Source: RBZ