Metbank | |
Type: | Private |
Location: | Harare, Zimbabwe |
Key People: | Darlick E. Marandure (Chairman) Belmont Ndebele (Managing Director) |
Num Employees: | 251 (2018) |
Revenue: | US$660,288 (2016) |
Assets: | US$200.7 million (2016) |
Industry: | Financial services |
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.[1]
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).
Metbank serves large corporations, small to medium enterprises (SMEs), as well as individuals. The bank partners with MasterCard to issue debit and credit cards., 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.[3]
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.[4]
According to the website of the Reserve Bank of Zimbabwe, the major shareholders in the stock of the bank include the following:[2]
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 | ||
, Metbank maintains a network of branches at the following locations:[5]
The chairperson of the bank's board of directors is Dr. Linda Chipunza, a non-executive director. The managing director is Belmont Ndebele.[6]