Metbank
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1999 |
| Headquarters | Harare, Zimbabwe |
Key people | Darlick E. Marandure (Chairman) Belmont Ndebele (Managing Director) |
| Products | |
| Revenue |  US$660,288 (2016)[1] |
| Total assets | US$200.7 million (2016)[1] |
Number of employees | 251 (2018)[2] |
| Website | www |
Metbank, formerly known as Metropolitan Bank of Zimbabwe, is a commercial bank in Zimbabwe. It is licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.[3]
Location[edit]
The headquarters and main branch of Metbank are located in Metropolitan House, at 3 Central Avenue, in Harare the capital and largest city of Zimbabwe.[2] The geographical coordinates of the bank's headquarters are: 17°49'31.0"S, 31°03'02.0"E (Latitude:-17.825278; Longitude:31.050556).[4]
Overview[edit]
Metbank serves large corporations, small to medium enterprises (SMEs), as well as individuals. The bank partners with MasterCard to issue debit and credit cards. As of December 2016[update], Metbank was a medium-sized financial services provider, with an asset base of US$200.7 million, with shareholders' equity of US$55.9 million.[1]
Metbank Limited has been involved with the introduction of digital banking, branchless banking, and internet banking and agency banking, while keeping the number of brick-and-mortar branches low. As of February 2018, Metbank had a network of banking agents numbering over 150, both inside and outside Zimbabwe. Many of these agents are women and youth, who otherwise would be unemployed.[5]
Ownership[edit]
According to the website of the Reserve Bank of Zimbabwe, the major shareholders in the stock of the bank include the following:[2]
| Rank | Shareholder | Percentage Ownership |
|---|---|---|
| 1 | Loita Finance Holdings Limited | 60.00 |
| 2 | Blisford Investments Private Limited | 10.00 |
| 3 | Crudge Investments Private Limited | 10.00 |
| 4 | Metropolitan Bank Trust | 7.20 |
| 5 | Rhinemead Investments Private Limited | 6.40 |
| 6 | Knopfler Investments Private Limited | 2.80 |
| 7 | Equestrian Trading Private Limited | 2.80 |
| 8 | CAI Pension Fund | 0.80 |
| Total | 100.00 |
Branch network[edit]
as of January 2021[update], Metbank maintains a network of branches at the following locations:[6]
- Main Branch: Metropolitan House, 3 Central Avenue, Harare
- Bulawayo Branch: Meikles Building, Corner Jason Moyo/ Leopold Takawira Bulawayo
- Gweru Branch: Shop No. 1 & 2 Bahadaur Centre, Main Street, Gweru
- Mutare Branch: Shop 1, Zimre Centre, Corner of Herbert Chitepo Street and 5th Street, Mutare
Governance[edit]
The chairperson of the bank's board of directors is Dr. Linda Chipunza, a non-executive director. The managing director is Belmont Ndebele.[7]
See also[edit]
References[edit]
- ^ a b c Charles Rukuni (3 April 2017). "Metbank Zimbabwe profit doubles". Harare: Zimbabwe Insider. Retrieved 15 May 2018.
- ^ a b c Reserve Bank of Zimbabwe (15 May 2018). "Profile of Metbank Limited". Harare: Reserve Bank of Zimbabwe. Retrieved 15 May 2018.
- ^ Reserve Bank of Zimbabwe (15 May 2018). "List of Registered Banking Institutions". Harare: Reserve Bank of Zimbabwe. Retrieved 15 May 2018.
- ^ Google (15 May 2018). "Location of the Headquarters of Metbank Limited, 3 Central Avenue, Harare" (Map). Google Maps. Google. Retrieved 15 May 2018.
- ^ Vhurundiya, Tapiwa (1 February 2018). "Metbank 'branchless' banking sets new tone for innovative banking". Bulawayo: Bulawayo24.com. Retrieved 15 May 2018.
- ^ Metbank Limited (15 May 2018). "The Branch Network of Metbank Limited". Harare: Metbank Limited. Retrieved 15 May 2018.
- ^ "Board of Directors". Metbank. Retrieved 15 January 2022.