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From Wikipedia, the free encyclopedia
CBZ Holdings, whose full name is CBZ Holdings Limited, is a financial services conglomerate in Zimbabwe. It owns subsidiaries in banking, insurance, investments, wealth management, mortgages and retail finance.[4]
CBZ Holdings logo | |
| Company type | Public |
|---|---|
| ZSE: CBZ | |
| Industry | Financial services |
| Founded | 1980 |
| Headquarters | Harare, Zimbabwe |
Key people | Marc Holtzman Group Chairman Blessing Mudavanhu Group Chief Executive[1] |
| Products | Banking, Insurance, Investments, Debit Cards, Credit Cards, Mortgages, Wealth Management |
| Revenue |  Aftertax:US$27.84 million (2017)[2] |
| Total assets | US$2.192 billion (2017)[2] |
Number of employees | 1,947 (2023) [3] |
| Website | cbz |
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]
As of December 2017[update], CBZ Holdings Limited is a large financial services conglomerate in Zimbabwe, with an asset base in excess of US$2.192 billion, and shareholders' equity in excess of US$309.69 million.[2]
The flagship business of the Group, CBZ Bank Limited, was founded in 1980. It was taken over by the Government of Zimbabwe in 1991, to avert looming liquidation and was renamed Commercial Bank of Zimbabwe Limited. The company was listed on the Zimbabwe Stock Exchange in 1998. In 2005, the company rebranded, creating CBZ Bank as the main business and CBZ Holdings Limited as the holding company.[7] The member businesses of the Group are as illustrated in the table below, as at 31 December 2017.[2]
| Rank | Name of Owner | Asset Value | Percentage Ownership | Notes |
|---|---|---|---|---|
| 1 | CBZ Bank Limited | US$1,991,520,000 | 100% | Commercial Bank |
| 2 | CBZ Life Insurance | US$18,580,000 | 100% | Life Insurance |
| 3 | CBZ General Insurance | US$13,220,000 | 100% | General Insurance |
| 4 | CBZ Asset Management (Datvest) | US$3,720,000 | 100% | Asset Management |
| Total | $2,192,660,000 | 100% | ||
CBZ Holdings Limited is a publicly traded company. Its stock is listed on the Zimbabwe Stock Exchange, where it trades under the symbol: CBZ. According to the December 2017 Annual Report of the CBZ Holdings Limited (CBZ Group), the major shareholders in the Group were as listed in the table below:[2]
| Rank | Shareholder | Percentage Ownership |
|---|---|---|
| 1 | CBZ Holdings Limited | 24.58 |
| 2 | Government of Zimbabwe | 16.01 |
| 3 | Libyan Foreign Bank | 14.06 |
| 4 | National Social Security Authority of Zimbabwe | 11.71 |
| 5 | PIM Nominees (Private) Limited | 6.70 |
| 6 | Old Mutual Life Association Company Zimbabwe Limited | 5.45 |
| 7 | Stanbic Nominees (Private) Limited–NNR | 4.34 |
| 8 | PIM Nominees–NNR | 1.72 |
| 9 | SCB Nominees | 1.53 |
| 10 | Stanbic Nominees (Private) Limited | 1.42 |
| 11 | Others | 12.48 |
| Total | 100.00 | |
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