Time Bank Zimbabwe Limited, also referred to as Time Bank Zimbabwe, but commonly known as Time Bank, is

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 one of the seventeen licensed commercial banks in the country.

Overview

Time Bank is a small financial services provider in

. , the bank's total asset valuation is not publicly known. The shareholder's equity in the bank is estimated at US$12.5 million, the minimum capital requirement for a commercial bank in Zimbabwe, effective December 2010. Prior to 2004, the bank was primarily a

retail bank Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ba ...

. Following its re-opening in 2011, Time Bank will focus on

investment bank Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

ing.

History

The bank was founded prior to 2004. That year, it was closed down 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 ...

(RBZ), the national banking regulator. The shareholders and management of the bank appealed that decision and the courts reversed it in 2009. The bank then successfully applied for reinstatement of its banking license. Time bank is scheduled to resume full banking activities in March 2011, with two retail branches 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 of Zimbabwe and the country's largest city.

Ownership

The shares of

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 Time Bank are privately owned. Detailed shareholding in the bank is not publicly available.

Branch network

, the bank branches are Main Branch at Burrough House,

, and Airport Branch at

Harare International Airport Robert Gabriel Mugabe International Airport (), (known colloquially as "RGM", or Harare Airport) and formerly known as Harare International Airport and Salisbury Airport, is an international airport in Harare, Zimbabwe. It is the largest airpo ...

References

{{Reflist

External links