Who we are
NMBZ is a Zimbabwean based investment holding company whose principal subsidiary is NMB Bank Limited, a registered commercial bank in terms of the Banking Act Chapter 24:20. Its only other active subsidiary is Stewart Holdings (Private) Limited, an equities holding company. The Group has a dual listing on the Zimbabwean Stock Exchange and the London Stock Exchange.
History of The Bank
NMB Bank Limited (formerly National Merchant Bank of Zimbabwe Limited) was established in October 1992 by a group of Zimbabwean entrepreneurs who had previously held senior positions in renowned international financial institutions such as the World Bank and the International Finance Corporation.
The impetus for the creation of NMB Bank came from the liberalization of the Zimbabwean economy and financial sector in the early 1990s.
NMB Bank was registered as an accepting house under the Banking Act in June 1993. Continued growth created the opportunity for a public flotation of the Group, and in early 1997, the NMBZ Group was successfully listed on the Zimbabwe Stock Exchange and simultaneously admitted to the Official List of the London Stock Exchange. The public offer was 4.5 and 2 times oversubscribed in Zimbabwe and London respectively, and it substantially enhanced the bank’s capacity to underwrite more business.
In December 1999, NMB Bank was granted a commercial banking licence. This enhanced funding capacity as well as improved product offering. The commercial bank opened its doors to the public in July 2000.