NMB Bank Limited, previously known as National Merchant Bank of Zimbabwe Limited, is a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

Zimbabwe file:Zimbabwe, relief map.jpg, upright=1.22, Zimbabwe, relief map Zimbabwe, officially the Republic of Zimbabwe, is a landlocked country in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Bots ...

. It is licensed by the

Reserve Bank of Zimbabwe The Reserve Bank of Zimbabwe ( RBZ) is the central bank of Zimbabwe and is headquartered in the country’s capital Harare. History The bank traces its history to the Reserve Bank of Rhodesia, founded on 22 May 1964, but which succeeded the Ba ...

, the

central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

of that country and the national banking regulator.

Location

The headquarters of this bank and its main branch, are located at 19207 Liberation Legacy Way (formerly Borrowdale Road), Borrowdale, in

Harare Harare ( ), formerly Salisbury, is the Capital city, capital and largest city of Zimbabwe. The city proper has an area of , a population of 1,849,600 as of the 2022 Zimbabwe census, 2022 census and an estimated 2,487,209 people in its metrop ...

, the capital and largest city of Zimbabwe. The bank has 14 branches across Zimbabwe as well as over agents in over 130 locations making it the bank with the largest footprint in the country.

Overview

The bank is a medium-sized financial services institution, that serves large corporations,

small to medium enterprises Small means of insignificant size. Small may also refer to: Science and technology * SMALL, an ALGOL-like programming language * ''Small'' (journal), a nano-science publication * <small>, an HTML element that defines smaller text Arts and ...

(SMEs), as well as individuals. , the bank's total assets were valued at US$422.6 million, with shareholders' equity valued at US$65.65 million.

History

NMB Bank Limited was founded in 1993 by Zimbabweans. At that time it was under the name ''National Merchant Bank of Zimbabwe''. In June 1993, the bank was registered as an accepting house under the Banking Act. In 1997, the NMBZ Group was listed on the

Zimbabwe Stock Exchange The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. Its history dates back to 1896 but has only been open to foreign investment since 1993. The exchange has about a dozen members, and currently lists 63 equities. The ...

and simultaneously on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

. In December 1999, NMB Bank was granted a commercial banking licence. It commenced commercial banking services in July 2000. In 2013, FMO,

Norfund Norfund is a development finance institution established by the Norwegian Storting (parliament) in 1997 and owned by the Norwegian Ministry of Foreign Affairs. The fund receives its investment capital from the state budget, and surpluses in the port ...

an
AfricInvest
, jointly invested US$14.8 million in NMB Holdings Limited, the parent company of NMB Bank, for a collective shareholding of 27 percent.

Ownership

The bank is a 100% subsidiary of NMBZ Holdings Limited (NMBZ), a

an investment and holding company. NMB Bank Limited is the principal subsidiary of NMBZ. The

stock Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

of the holding company is listed on the

and on the

. As of December 2017, the shareholding in the stock of the holding company is as illustrated in the table below: *Note:Arise BV is a special purpose vehicle company, formed in 2016 and co-owned by

, FMO and

Rabobank Rabobank (; full name: ''Coöperatieve Rabobank U.A.'') is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. The group comprises 89 local Dutch Rabobanks (2019), a central organisation (Raboban ...

. Arise invests in African financial institutions.

Branch network

, the bank maintained a network of 14 branches.

References