Zimbabwe First Capital Bank Limited, formerly known as Zimbabwe Barclays, is a commercial bank in Zimbabwe licensed by the Reserve Bank of Zimbabwe, the Central Bank and the National Banking Supervisory Authority.

The bank is a subsidiary of financial services group FMBCapital Holdings Plc and is headquartered in Mauritius with other subsidiaries in Botswana, Malawi, Mozambique, Zambia.

Location

The bank's headquarters and main branches are located at Barclays House on the corner of Jason Moyo Street and First Street in the heart of Harare, Zimbabwe's largest city and capital. The geographical coordinates of the Headquarters of Capital One Bank Zimbabwe are: 17 ° 49 '50.0 "S 31 ° 02' 59.0" E (Latitude: -17.830556; Longitude: 31.049722).

Overview

The Bank is a large financial services provider in Zimbabwe, serving large corporations, small and medium enterprises (SMEs) as well as individuals. As of December 2018, its total asset base value was $698,744,000 and shareholders' equity was $116,503,000.

History

Zimbabwe Barclays (BBZ) was established in 1912 and operated until 2018. As of October 2017, BBZ employed over 700 permanent employees across its commercial banking network of 26 branches in all major metropolitan areas of the country. In October 2017, First Commercial Bank of Malawi announced that it had purchased a controlling stake in BBZ for an undisclosed consideration. Under the terms of the sale, the bank was allowed to continue to use the Barclays name for up to three years before undergoing a rebranding.

Between 2008 and 2012, the bank employed up to 1,423 employees in January 2008, but by the time FMB Capital Holdings Plc acquired the bank, the payroll had been "rationalized" to around 700.

In October 2018, the bank changed its name from Barclays Zimbabwe to Capital One Zimbabwe Bank Limited to reflect its current holdings.

In March 2019, the bank migrated from the Barclays system to the new IT banking system

Ownership

Capital One Zimbabwe Bank Limited (FCBZL) is a subsidiary of the Mauritian financial services group FMB Capital Holdings Plc, with subsidiaries in a number of Southern African countries including Botswana, Malawi, Mozambique, Zambia and Zimbabwe. FCBZL's shares are listed on the Zimbabwe Stock Exchange. As of October 2017, the bank's major shareholders are listed in the table below.