About First Capital Bank

First Capital Bank Limited, is a bank controlled by the Mauritius based banking group FMBcapital Holdings PLC, and has banking operations in Malawi, Botswana, Zambia, Mozambique and Zimbabwe. In Zimbabwe, the First Capital Bank Limited, formerly known as Barclays Bank of Zimbabwe, (BBZ) is a universal bank . It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.

About First Capital Bank

First Capital Bank Limited, is a bank controlled by the Mauritius based banking group FMBcapital Holdings PLC, and has banking operations in Malawi, Botswana, Zambia, Mozambique and Zimbabwe. In Zimbabwe, the First Capital Bank Limited, formerly known as Barclays Bank of Zimbabwe, (BBZ) is a universal bank . It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.

Location

The headquarters and main branch of the bank are located in Barclay House, at the corner of Jason Moyo Street and First Street, in downtown Harare, he largest city and capital of Zimbabwe.

Overview

The bank is a medium-sized financial services provider in Zimbabwe, serving large corporations, small-to-medium enterprises (SMEs), as well as individuals. As of December 2016, its total asset base was valued at US$476 million. At that time, its shareholders' equity was valued at US$65 million.

History

Barclays Bank Zimbabwe was established in 1912, and has operated continuously since. As of October 2017, BBZ employed in excess of 700 permanent staff, in a commercial banking network of 26 branches in all large urban areas in the country. In October 2017, it was announced that First Merchant Bank Malawi had purchased a controlling interest in BBZ, for an undisclosed figure. Under the terms of the sale, the bank will continue to use the Barclays name for up to another three years, before it rebrands.

During the 2008–2012 time frame, the bank employed a maximum of 1,423 employees in January 2008, but the payroll was "rationalized" to about 700, by the time FMB Capital Holdings Plc acquired the bank.

In October 2018, the bank re-branded from Barclays Bank of Zimbabwe to First Capital Bank Limited, to reflect its current shareholding.

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

Ownership

BBZ is a subsidiary of FMB Capital Holdings Plc, a Mauritius-based financial services conglomerate, with subsidiaries in several Southern African countries, including Botswana, Malawi, Mozambique, Zambia, and Zimbabwe. The stock of Barclays Bank Zimbabwe, is listed on the Zimbabwe Stock Exchange. The major shareholders in the bank are depicted in the table below, as of October 2017.