8 October 2018

Zimbabwe: Barclays Bank of Zimbabwe Changes Name Effective This Monday

Photo: The Herald

Barclays Bank of Zimbabwe Limited has said that with effect from this Monday it shall be trading as First Capital Bank Limited following a change of ownership two years ago.

The bank's head of corporate affairs and customer service, Emily Nemapare, told NewZimbabwe.com Business that the decision to change the trade name was reached at an extraordinary General Meeting held on July 3 2018.

Members unanimously resolved to approve the change of name in a development that has already been approved by the Registrar of companies.

"The new name of the Company shall be effective from 8 October 2018 on the Zimbabwe Stock Exchange. Following the change of name, the abbreviated name of the Company shall be FCAZW," she said.

The financial institution's shareholders were also advised that it is not compulsory for them to change share certificates and urged those wishing to do so to visit the respective offices.

"... however shareholders who intend to change their share certificates should contact Transfer Secretaries in 2nd Floor ZB Centre, Kwame Nkrumah Avenue, Harare," Nemapare added.

Malawi-based First Merchant Bank (FMB) acquired an effective 42,7 percent shareholding in Barclays Bank Zimbabwe after UK-based Barclays Plc sold off its 62,3 percent stake in Barclays Africa Group to focus more on its transatlantic operations.

FMB holds considerable stakes in several banks in the Southern Africa.

These include a 70 percent stake in Capital Bank SA, a licensed commercial bank in Mozambique, a 38,6 percent shareholding in Capital Bank incorporated in Botswana and a 49 percent stake in First Capital Bank, of Zambia.

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