Steward Bank, Whose Official Name Is Steward Bank Limited, Is A Commercial Bank In Zimbabwe. It Is One Of The Regulated Banking Institutions Licensed By The Reserve Bank Of Zimbabwe, The Central Bank And The National Banking Supervisory Authority.
Location
The Head Office And Main Branch Of Steward Bank Are Located At 79 Livingstone Avenue, Harare, The Capital And Largest City Of Zimbabwe. The Geographical Coordinates Of The Bank's Head Office Are: 17 ° 49 ′ 38.0 "S, 31 ° 03 ′ 11.0" E (Latitude: -17.827222; Longitude: 31.053056).
Overview
The Bank Is A Medium-sized Retail Bank In Zimbabwe. As Of February 2017, The Bank's Total Assets Were Valued At $226,058,440 And Shareholders' Equity Was $75,046,584. In November 2013, Shareholders' Equity Was Valued At $76.90 Million, Making It One Of The Top Five Banks In The Country By Market Capitalization.
History
The Bank Was Established In 2013 As A Commercial Bank. Before That, The Company Had Existed As Financial Institution Group Since 1999. In 2006, The Bank Merged With Trustfin Financial Services Limited. In December 2009, TNFH, The Holding Company Of TN Bank, Successfully Completed A Reverse Merger With Tedco, Another Zimbabwean Enterprise, To Form TN Holdings, The Parent Company Of TN Group Company. In Addition To Owning TN Bank's Parent Company, TN Financial Limited, TN Holdings Limited Also Owns TN Medical, An Owner-operator Of Medical Facilities, Including Health Insurance Subsidiaries TN Asset Management And TN Harlequin, A Manufacturer And Distributor Of High-end Home And Office Furniture, Among Other Interests.
In July 2012, Chelet Wireless, Zimbabwe's Largest Mobile Phone Provider, Acquired A 45% Stake In The Bank. In February 2013, Amanet Acquired The Remaining 55% Stake, Thereby Transforming TN Bank Into A 100% Subsidiary Of The Mobile Phone Company. At That Time, The Bank's Shares Had Been Delisted From The ZSE. After Being Spun Off From TN Bank, TN Holdings Limited Changed Its Name To Lifestyle Holdings Limited.
In July 2013, TN Bank Changed Its Name To Steward Bank And Embarked On A Series Of Reforms To Differentiate Itself From Its Previous Owners, Including The Formation Of A New Board Of Directors, The Creation Of A New Company Logo, The Launch Of A New Website, And The Relocation Of Its Branches From The Lifestyle Holdings Location.
In June 2019, Dr. Lance Mambondiani Resigned And Was Replaced By Kris Chirairo, The Former Chief Financial Officer Of Amanet Wireless.
Ownership
In 2012 And Early 2013, The Largest Communications Company In Zimbabwe, Atomet Wireless (whose Shares Are Listed On The Zimbabwe Stock Exchange), Acquired A Controlling Stake In TN Bank, The Predecessor Of Steward Bank, Thus Becoming A Subsidiary Of Amanet. In July 2013, TN Bank Changed Its Name To Steward Bank.
Branch
As Of May 208, Steward Bank Maintains A Branch Network At The Following Locations:
- Livingstone Branch: 79 Livingstone Avenue, Harare
- Avondale Branch: 7 King George Road At Corner With Lanark Road, Avondale, Harare
- East Gate Branch: Harare East Gate At The Corner Of Robert Mugabe Street And Third Street
- Joina City Branch: Upper Ground Floor, Joina City, Harare
- Brava Appointments: Bambanani Centre, Corner 9th Avenue And Jason Moyo, Bulawayo
- Gweru Branch: 124 Main Street, Gweru
- Mutare Branch: 49-51 Second Street, Mutare
- Masvingo Branch: 33 H. Chitepo Street, Masvingo.
