Metbank


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.

Location

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. The geographical coordinates of the bank's headquarters are: 17°49'31.0"S, 31°03'02.0"E.

Overview

Metbank serves large corporations, small to medium enterprises, 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.
Metbank Limited has been an innovative leader in the country 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.

Ownership

According to the website of the Reserve Bank of Zimbabwe, the major shareholders in the stock of the bank include the following:
RankShareholderPercentage Ownership
1Loita Finance Holdings Limited60.00
2Blisford Investments Private Limited10.00
3Crudge Investments Private Limited10.00
4Metropolitan Bank Trust7.20
5Rhinemead Investments Private Limited6.40
6Knopfler Investments Private Limited2.80
7Equestrian Trading Private Limited2.80
8CAI Pension Fund0.80
Total100.00

Branch network

, Metbank maintains a network of branches at the following locations:
  1. Main Branch: Metropolitan House, 3 Central Avenue, Harare
  2. Bulawayo Branch: 4 East End Building, Corner of Robert Mugabe Avenue and 9th Avenue, Bulawayo
  3. Chitungwiza Branch: 16110 Makoni Shopping Centre, Seke
  4. Gweru Branch: 66 Third Street, Gweru
  5. Mutare Branch: Shop 1, Zimre Centre, Corner of Herbert Chitepo Street and 5th Street, Mutare

    Governance

The chairman of the bank's board of directors is Wilson Manase, a non-executive director. The managing director and chief executive officer is Belmont Ndebele.