Type Private Founded 2002 Parent organization Ecobank | Industry Financial Services Headquarters Harare | |
Key people David Whatman
Chairman
Daniel Sackey
Managing Director & CEO Products Loans, Checking, Savings, Investments, Debit Cards Revenue Aftertax:US$1.2 million (H1:2013) Total assets US$120.2 million (June 2013) | ||
Ecobank Zimbabwe Limited (EZL), is a commercial bank in Zimbabwe. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe, the central bank in the country and the national banking regulator.
Contents
Overview
Ecobank Zimbabwe is a small, but growing financial services provider in Zimbabwe, serving large corporate clients, upscale retail customers and medium to large business enterprises. The company’s services include personal banking, business banking, global banking and agricultural finance. As of June 2013, the bank's shareholders' equity was estimated at US$42.8 million, and total assets were valued at US$120.2 million.
History
The bank was established in 2002 as Premier Finance Group, a merchant bank. In January 2011, Ecobank Transnational acquired majority shareholding in Premier Finance Group, at a price of US$10 million. Following the change in ownership, the institution rebranded to Ecobank Zimbabwe in May 2011. It also requested and was granted permission to change its merchant banking license to a commercial banking license. The Reserve Bank of Zimbabwe granted EBZ a commercial banking license, effective 15 May 2012.
Ownership
Ecobank Zimbabwe is a subsidiary of Ecobank Transnational, the Pan African bank with headquarters in Lome, Togo and a presence in over 30 African countries. Other shareholders in the Zimbabwean subsidiary are shown in the table below:
Branch network
As of January 2012, the bank maintains a network of nine operational branches, at the following locations:
- Head Office - 2 Piers Road, Harare
- Borrowdale Branch - Block A, Sam Levy’s Office Park, 2 Piers Road, Borrowdale, Harare
- Bradfield Branch - Stand 16433, Shops 3&4, Zonkizizwe Shopping Centre, Hillside Road, Bradfield, Bulawayo
- Chiredzi Branch - Stand 360, Mopani Drive, Chiredzi
- Joina City Branch - Shop U14, Innez Terrace at Jason Moyo Avenue, Harare
- Mbare Branch - Shops 1&2, Stand 29629, Farmer's Market, Mbare, Harare
- Nelson Mandela Branch - 35 Nelson Mandela Avenue, Harare
- Parkade Centre Branch - 5 Parkade Centre, Fife Street at 9th Avenue, Bulawayo
- Samora Machel Branch - 137 Samora Machel Avenue, Harare
- Chitungwiza Branch - Chitungwiza
- Mutare Branch - 2A Fidelity Centre, Herbert Chitepo Street, Mutare
- Msasa Branch - Msasa, Harare
- Graniteside Branch - Graniteside, Harare
- Kweke Branch - Beverly house Robert Mugabe way Kwekwe
- Bindura Branch - Robert Mugabe way
Governance
The Chairman of the bank is Sengiyampula Mlambo. The Managing Director and Chief Executive Officer is Moses Kurenjekwa .