MBCA Bank

MBCA Bank
Private
Industry Financial Services
Founded 1956
Headquarters Harare, Zimbabwe
Key people
 V. Willard Zireva
Chairman
C.C.Jinya
Managing Director
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue Increase Aftertax:US$3.36 million (2011)
Total assets US$180.7 million (2011)
Number of employees
 212 (2011)
Website Homepage

MBCA Bank, whose full name is MBCA Bank Limited, is a commercial bank in Zimbabwe. It is one of the licensed commercial banks in the country.[1]

Overview

As of December 2011, the bank was a medium-sized financial services provider in Zimbabwe, with an asset base of nearly US$181 million and shareholders' equity of nearly US$19.7 million.[2] The bank is a subsidiary of the Nedbank Group, a large financial services provider, headquartered in Johannesburg, South Africa, with total assets of almost US$80 billion (ZAR: 648+ billion), as of December 2011.[3]

History

The bank was founded in 1956 by Rhodesia Selection Trust (RST)[4] as the Merchant Bank of Central Africa. Following the issuance of a commercial banking license by the Reserve Bank of Zimbabwe, the national banking regulator, the bank rebranded to MBCA Bank Limited in 2004. Significant to the development of Southern Rhodesia and to the failing Central African Federation is at much the same time RST's competitor Anglo-American joined with Lazard Brothers of London to found Rhodesian Acceptances Limited (RAL).[4] RAL, now known as RAL Merchant Bank (Zimbabwe) was part of Anglo-America until reorganisation/rationalisation, now in the Nedbank/Old Mutual Group.

Subsidiaries

The bank has 100% ownership in the following subsidiaries:

Ownership

According to the website of MBCA Bank, the major shareholders in the stock of the bank include the following:[5]

Shareholding in MBCA Bank
Rank Shareholder Percentage Ownership
1Nedbank Group of South Africa74.00[6]
2Old Mutual Zimbabwe Limited18.30
2Rothschild & Sons of the United Kingdom03.26
4 Banca de Credito Finanziaio of Italy01.05
5MBCA Employee Share Trust0.66
6Others 02.03
Total 100.00

Branch network

MBCA Bank maintains a network of branches at the following locations:[7]

  1. Harare Office - Old Mutual Centre, Corner of 3rd Street & Jason Moyo Avenue, Harare
  2. Main Branch - 99 Jason Moyo Avenue, Harare
  3. Southerton Branch - 11 Highfield Junction Road, Southerton, Harare
  4. Bulawayo Office - 74 Main Street, Bulawayo
  5. Belmont Branch - 61 Plumtree Road, Belmont, Bulawayo
  6. Leopold Takawira Branch - Central Africa House, Leopold Takawira Street at Jason Moyo Avenue, Bulawayo
  7. Mutare Branch - Windsor Msasa House, 75 Herbert Chitepo Street, Mutare
  8. Zvishavane Branch - 100 Ireland Road, Zvishavane

See also

References

  1. ↑ List of Licensed Banks In Zimbabwe
  2. ↑ Audited December 2011 Financial Report for MBCA Bank
  3. ↑ Audited December 2011 Annual Report for Nedbank Group
  4. 1 2 Uneven Zimbabwe: A Study of Finance, Development, and Underdevelopment By Patrick Bond
  5. ↑ Shareholding in MBCA Bank
  6. ↑ Nedbank Group Shareholding Is 74%
  7. ↑ Branches of MBCA Bank
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