Basic Information
ZB Bank Limited is a dynamic commercial bank rooted in the African financial markets and known for its flexibility and regional focus. It is not a state-owned or joint venture bank, but focuses on commercial operations and focuses on profitability and customer service.
Name &
BackgroundZB Bank Limited, founded in 1951 and headquartered in Harare, the capital of Zimbabwe. As a core subsidiary of ZB Financial Holdings Limited, its shareholder background is mainly privatized, not listed on the public market, and mainly supported by local and regional investors, showing a strong local character.
Scope of
ServicesZB Bank's business mainly covers the whole of Zimbabwe, with about 30 offline outlets, concentrated in major cities such as Harare and Bulawayo. The ATM network covers cities and some towns, with a number of about 100 units, which is convenient for customers to withdraw money and inquire on a daily basis. Although it is mainly in the domestic market, it supports some international businesses through foreign exchange services and cross-border payments.
Regulation &
ComplianceZB Bank is strictly regulated by the Reserve Bank of Zimbabwe and is subject to local financial regulations. It has joined the Zimbabwe Deposit Insurance Scheme, which provides protection of up to Zimbabwean $10 million on customer deposits. In recent years, the compliance record is good, and there are no major penalties or violations, showing a stable operational attitude.
Financial health
ZB Bank's financial performance is robust, with a capital adequacy ratio of approximately 12%, which is higher than the 8% required by Zimbabwean regulators, demonstrating its resilience to risks. The non-performing loan ratio is controlled at around 5%, which is at the industry average, reflecting prudent credit management. The liquidity coverage ratio is approximately 80%, ensuring that short-term funding needs are worry-free. Overall, ZB Bank is financially healthy and suitable for customers looking for stable banking services.
Deposit & Loan Products
Deposits: ZB Bank offers a wide range of deposit products with an annualized interest rate of about 1% for current accounts and up to 5% for time deposits (1 year). Its high-yield savings account and Certificate of Deposit are suitable for customers looking for solid returns, with flexible deposit amounts starting from Zimbabwean $100,000.
Loans: The annualized interest rate of housing loans is between 10%-12%, and the annual interest rate of car loans is 8%-10%, and the threshold for personal credit loans is low, which is suitable for middle-income groups. The loan approval process is traditional, and flexible repayment options, such as early repayment without penalty, are not yet widely available.
List of common expenses
account management fee is around Zimbabwean $5,000 per month, and additional fees may be triggered below the minimum balance (usually Zimbabwean $100,000). Domestic transfers are free of charge, while cross-border transfers have a higher fee (about 2%). Interbank ATM withdrawals cost Zimbabwean $2,000 per withdrawal, and the overdraft fee is about 1.5% of the account balance. Customers are advised to focus on the minimum balance requirement to avoid hidden fees.
Digital service experience
ZB Bank's digital services keep up with the trend, and its mobile banking app and online banking platform are very popular in the local market, with a Google Play user rating of about 3.8/5. The app features real-time transfers, bill payments, and account management, as well as facial recognition login, making it easy to operate. In terms of technological innovation, ZB Bank is testing the waters of AI customer service, but has not yet launched robo-advisors or open banking APIs. The overall digital experience is suitable for everyday financial needs, but there is still room for improvement compared to the world's leading banks.
Quality of customer service
ZB Bank offers 24/7 phone support and online chat services, and social media (such as WhatsApp and Twitter) are responsive, usually responding within 10 minutes. Complaint handling efficiency is high, with an average resolution time of about 3-5 working days, and user satisfaction is 80%. Multi-language support mainly covers English and Shona languages, and there are no other international language services, which is suitable for local and English fluent users.
Safety and Security Measures
Security of Funds: ZB Bank participates in the Deposit Insurance Scheme, which guarantees deposits of up to Zimbabwean $10 million. Its anti-fraud technology includes real-time transaction monitoring and abnormal behavior alerts to effectively reduce the risk of fraud.
Data security: The bank has passed the ISO 27001 information security certification, has comprehensive data protection measures, and has no major data breach records in recent years, so customers can use its services with confidence.
Featured Services and Differentiation
ZB Bank has launched differentiated products for market segments, such as fee-free accounts for students to attract young users; Green finance loans support environmental protection projects and cater to the trend of sustainable development. High-net-worth clients can enjoy private banking services, customized financial solutions, and the minimum investment threshold is about 5 million Zimbabwean dollars. These features set ZB Bank apart in the local market.
Market Position & Accolades
ZB Bank is ranked among the top 10 in the banking sector in Zimbabwe and has the largest assets in the region. Although not among the top 50 banks in the world, its strategy of focusing on the local market has made it widely recognized in Zimbabwe. In 2023, ZB Bank was nominated for "Best Regional Bank", highlighting its efforts in innovation and service quality.
ZB Bank Limited is a Zimbabwean-based commercial bank that has earned the trust of its customers with its solid financial performance, local responsiveness and progressively improved digital experience. Whether it's everyday savings, loan needs or high-net-worth financing, it offers practical solutions, especially for local residents and small and medium-sized business owners.
