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BancABC Bank Limited

Head Office Address:

African Banking Corporation of Zimbabwe Limited

1 Endeavour Crescent

Mount Pleasant Business Park

Mount Pleasant

HARARE

Telephone: +263 4 369260/ 338001/9

Fax: +263 4 369932

Telex:

Website: www.bancabc.com

 

Postal Address:

P. O. Box 2786,

Harare,

Zimbabwe

Type of bank: Commercial Bank

Date of establishment: 1999

History:

  • ABCH was formed in 1999 by various sponsors who previously owned separate business interests in various small to medium sized banking and financial institutions throughout Southern and Central Africa.
  • ABCH then entered into a series of share swap offers in 2000, made to the shareholders of FMB Holdings Limited, UDC Holdings Limited, EDFUND, the Bard Group of Companies and ULC Botswana.
  • The share swaps culminated in a primary listing of ABCH on the Botswana Stock Exchange and a secondary listing on the Zimbabwe Stock Exchange on 19 September 2000.
  • First Merchant Bank Limited, which had been operating as an Accepting House in Zimbabwe since 1956, under the ownership of FMB Holdings was re-branded African Banking Corporation of Zimbabwe Limited in 2001.
  • 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.
  • On 27 April 2009, the bank announced its re-branding to BancABC following Reserve Bank approval.
  • On 1 December 2009, the bank commenced commercial banking business by opening its first commercial banking branch (Heritage House), after a pre-opening inspection by the Reserve Bank of Zimbabwe.

Ownership: 100% owned by Atlas Mara

Chairman: Alvord Mabhena

Chief Executive Officer: Joseph Sibanda

Auditors : KPMG Chartered Accountants

Number of employees: 457

Number of branches: 27

 

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© 2015

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