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NMB Bank Limited was founded in 1993 by Zimbabweans. At that time it was under the name National Merchant Bank of Zimbabwe. In June 1993, the bank was registered as an accepting house under the Banking Act. In 1997, the NMBZ Group was listed on the Zimbabwe Stock Exchange and simultaneously on the London Stock Exchange. In December 1999, NMB ...
AFC Commercial Bank Ltd, state-owned; African Banking Corporation Zimbabwe Ltd (BancABC), part of Atlas Mara Group; CBZ Bank Ltd; Ecobank Zimbabwe Ltd, part of Ecobank Group; FBC Bank Ltd, part of the FBC Group; First Capital Bank Zimbabwe Ltd, part of First Capital Bank Group; Metbank Ltd; Nedbank Zimbabwe Ltd, part of Nedbank Group; NMB Bank Ltd
The headquarters of the bank and its min branch are located on the 14th Floor of Old Mutual Centre, at the corner of Third Street and Jason Moyo Avenue, in Harare, the capital and largest city in Zimbabwe. [1] The geographical coordinates of the bank's headquarters are: 17°49'46.0"S, 31°03'12.0"E (Latitude:-17.829444; Longitude:31.053333). [4]
In 2004, David became the chief executive officer of NMB Bank Limited when its former directors – Julius Makoni, James Mushore, Otto Chekeche and Francis Zimuto – fled the country during the banking crisis. He resigned from his post at NMB in 2005 three months after it emerged that the bank had been defrauded of over US$6,3 million. [3]
Then, it was the second-largest commercial bank in Tanzania, by assets, behind CRDB Bank Plc. At that time, NMB Bank was ranked as the 3rd most profitable bank in the East African Community, having risen from 10th position in 2018. In 2023 its cost to income ratio was 38 percent. [3]
The bank is a medium-sized retail bank in Zimbabwe. As of February 2017 [update] , the total asset valuation of the bank was US$226,058,440, with shareholders' equity of US$75,046,584. [ 2 ] In November 2013, the shareholders' equity was valued at US$76.9 million, making it one of the top five capitalized banks in the country.
The headquarters of the financial services conglomerate are located on the 3rd Floor of Union House, at 60 Kwame Nkrumah Avenue, in downtown Harare, the capital and largest city in Zimbabwe. [5] The geographical coordinates of the bank's headquarters are: 17°49'40.0"S, 31°02'55.0"E (Latitude:-17.827778; Longitude:31.048611). [6]
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