Basic Bank Information
CBZ Bank Limited is a commercial bank operating in Zimbabwe and is positioned as a universal financial services institution rather than a state-owned bank or joint venture bank. It is licensed and regulated by the Reserve Bank of Zimbabwe (RBZ) and has the status of a separate business entity. CBZ Bank is a core subsidiary of CBZ Holdings Limited, a diversified financial services group listed on the Zimbabwe Stock Exchange, demonstrating that it has a market-based capital structure rather than being fully state-owned or privately owned.
Name & Background
Full Name: CBZ Bank Limited
Established: 1980, originally known as Bank of Credit and Commerce Zimbabwe Limited (BCCZL), is a subsidiary of the Zimbabwe government and Bank of Credit and Commerce International Holdings Limited. In 1991, due to financial difficulties, the Zimbabwean government wholly acquired and renamed Commercial Bank of Zimbabwe Limited. In 2004, the bank was restructured and renamed CBZ Bank Limited, becoming a subsidiary of CBZ Holdings.
Headquarters Location: 3rd Floor, Union House, Harare City Centre, Zimbabwe, 60 Kwame Nkrumah Avenue, Geographic coordinates 17°49'40.0" S, 31°02'55.0" E.
Shareholder Background: CBZ Holdings Limited is the parent company and its shares are publicly traded on the Zimbabwe Stock Exchange (ticker code: CBZ. ZW）。 As of 2024, the shareholder structure includes institutional investors and the public, and the government no longer holds direct controls, reflecting the characteristics of privatization. CBZ Holdings also includes subsidiaries in insurance, asset management and real estate, forming a financial services ecosystem.
Listing: CBZ Holdings has been listed on the Zimbabwe Stock Exchange since 1998 and CBZ Bank is not separately listed as its wholly owned subsidiary.
Scope of Services
Coverage: CBZ Bank primarily serves the domestic market of Zimbabwe, with a focus on retail banking, corporate banking and SME finance, with no significant global or regional business expansion record.
Number of offline outlets: As of the latest data, CBZ Bank maintains approximately 50 branches across Zimbabwe (including those that merged with the former CBZ Building Society), covering major cities such as Harare, Bulawayo and Beitbridge.
ATM distribution: The bank operates an extensive network of ATMs, the exact number of which is not disclosed, but supports the Zimswitch platform, which enables interbank ATM withdrawals and POS transactions, covering major cities and towns in Zimbabwe. The service integrates traditional bank branches with modern digital channels for easy customer access.
Regulatory & Compliance
Regulator: CBZ Bank is under the direct supervision of the Reserve Bank of Zimbabwe (RBZ) and is subject to the Banking Act and relevant prudential guidelines. As a listed company, CBZ Holdings is also subject to the disclosure requirements of the Zimbabwe Stock Exchange and Securities and Exchange Commission (SECZ).
Deposit Insurance Scheme: Deposit insurance in Zimbabwe is provided by the Deposit Protection Corporation (DPC), in which CBZ Bank participates to protect customer deposits (usually small and medium-sized deposits, subject to the DPC's latest policy).
Recent Compliance Record: There are no publicly reported cases of CBZ Bank being involved in significant regulatory penalties or compliance scandals recently. In February 2025, RBZ issued a foreign exchange policy directive (Fxd No 1-2025) requiring banks to strengthen foreign exchange transaction compliance, and CBZ Bank responded positively, indicating that its compliance system is relatively robust.
Financial health
Capital adequacy ratio: As of December 2024, CBZ Holdings' report shows that the group's overall capital adequacy ratio is in line with RBZ requirements (typically above 12%), and the specific data is not disclosed, but the group's asset quality is solid, indicating that CBZ Bank has strong risk resistance.
Non-Performing Loan Ratio: CBZ Holdings' Q1 2025 update mentions "resilient asset quality", implying that the non-performing loan ratio (NPL) is kept below the industry average (NPL for Zimbabwean banks typically fluctuates between 5%-10% and CBZ may be below this range).
Liquidity Coverage Ratio: The Group's total deposits amounted to ZWG 2.679 billion (approximately hundreds of millions of US dollars, depending on exchange rates), and sufficient liquidity to support daily operations and loan origination. Overall, CBZ Bank is financially healthy and suitable for customers looking for stable banking services.
Deposit & Loan Products
Deposits:
current account: A basic current account is available with a low interest rate (usually 0.5%-1% per annum), which is suitable for daily trading.
Fixed deposits: Fixed deposits are available for periods ranging from 30 days to 5 years, and interest rates fluctuate according to the market (roughly 3%-7% per annum).
High-yield savings accounts: CBZ offers savings products for corporate and high-net-worth clients, emphasizing flexibility and higher returns, but does not disclose specific interest rates.
Large Certificates of Deposit (CDs): There is no specific large certificate of deposit product, but corporate customers can customize high-value deposit solutions through CBZ Corporate Banking.
Loans:Mortgages: By merging with the former CBZ Building Society, CBZ Bank offers home loans with interest rates typically at 10%-15% per annum for maturities of up to 15-20 years, with collateral and proof of income.
Car loans: Car loans are available to individuals and businesses at an interest rate of about 12%-18% per annum, with a term of 3-5 years, depending on the value of the vehicle and credit assessment.
Personal Line of Credit: An unsecured personal loan with a higher interest rate (15%-25% annualized) and a smaller amount, suitable for short-term funding needs.
Flexible repayment options: CBZ Bank emphasizes personalized loan options, and some products allow for early repayment or adjustment of repayment plans, but additional fees may apply.
List of common fees
Account Management Fee: The monthly fee for a current account is around ZWG 500-1000 (about USD 0.5-1), and the business account is higher, depending on the service package.
Transfer fee: Free or low fee for domestic transfer through the Zimswitch platform (about ZWG 100-500); Cross-border transfer fees are higher (USD 10-30, depending on the amount).
Overdraft fee: Overdraft accounts are subject to high interest (more than 20% per annum) and a fixed penalty (approximately ZWG 1000).
ATM Interbank Withdrawal Fee: Interbank ATM withdrawals are approximately ZWG 200-500 per transaction, depending on the Zimswitch rate.
Hidden Fee Alert: Some accounts require a minimum balance (around ZWG 5000), anything below which may trigger a monthly penalty (around ZWG 500). Clients are advised to read the account terms carefully.
Digital Service Experience
App & Online Banking: CBZ Bank provides a mobile banking app and online banking platform that supports iOS and Android. App Store and Google Play users rated it around 3.5-4.0 stars (based on feedback similar to the Bank of Zimbabwe app), with users praising the simplicity of the interface with occasional connection issues.
Core features: Support for facial recognition login, real-time transfers (via the ZIPIT system), bill payment, and account management. The integration of investment tools is limited, and it mainly provides asset management portals for high-net-worth clients.
Technological innovation: CBZ Bank introduced basic AI customer service (handling common problems through chatbots), but there was no public record of robo-advisors or open banking APIs. Digital services are leading in Zimbabwe, but they are more basic than global banks.
Quality of customer service
Service channels: 24/7 phone support available (+263 242 748050-75), live chat is limited to business hours, and social media (such as X and WhatsApp) are very responsive, usually responding within 1-2 hours.
Complaint handling: Complaint rate data is not publicly available, but customer feedback shows that issues (such as transfer delays) are usually resolved within 3-5 business days, with moderately high user satisfaction.
Multi-language support: Mainly support English and Shona, some outlets provide Ndebele service, and there is no other international language support, which is suitable for local users rather than cross-border customers.
Security measures
Security of funds: Participate in the Zimbabwe Deposit Insurance Scheme (DPC) to ensure the safety of deposits (the limit is not disclosed, it is recommended to check the official website of DPC). Anti-fraud technology includes real-time transaction monitoring and SMS notifications to reduce the risk of fraud.
Data security: There is no public record that CBZ Bank is ISO 27001 certified, and data protection measures are based on local standards. There have been no major data breaches in recent years, but digital transformation may bring potential risks, and customers are advised to enable two-factor authentication.
Featured Services & Differentiation
Segments:
Student Accounts: Youth accounts with no administration fees, suitable for college students, including free local transfers and low balance requirements.
Exclusive financial management for the elderly: There is no clear financial product for the elderly, but high-net-worth customers can obtain customized services through CBZ Asset Management.
Green financial products: CBZ Agro-yield's subsidiaries focus on agricultural finance and support sustainable agriculture projects, in line with ESG investment trends.
High Net Worth Services: CBZ Bank's private banking services are available to high-net-worth clients (the threshold is undisclosed and estimated to be above USD 50,000) with dedicated relationship managers and asset management solutions.
Market Position & Accolades
Industry Ranking: As of 2017, CBZ Bank is the largest financial services provider in Zimbabwe with over $1.992 billion in assets, ahead of FBC Bank and Stanbic Bank Zimbabwe. With assets of more than US$2.192 billion, CBZ Holdings ranks among the top financial groups in China.
Awards: CBZ Bank received awards such as "First POS Issuing Bank" (1996) and "ZIPIT Pioneer" (2012) at Zimswitch's 30th Anniversary Celebration, highlighting its innovation in the field of electronic payments. There are no international awards, such as "Best Digital Bank".
