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A Harare man who failed to give a comprehensive explanation regards the source of a US$300,000 deposit in his NMB Bank will not be able to access the funds until an investigation is complete, a court ruled last week.
NMBZ Holdings Limited (NMB) registered US$13,4 million debt because of blocked funds with the central bank which it owes to various line of credit providers, it has been revealed.
NMB Bank has opened a money transfer centre that will allow for quick and focused service when one is collecting money sent from abroad.
Financial services group, NMBZ Holdings Limited says its banking subsidiary, NMB Bank is saddled with a legacy debt of US$13,8 million in credit lines owed to various lenders as at June 30, 2020.
NMB Bank Limited recorded a 56 percent decline in deposits in its 2019 financial year, a period under which the country slid into a hyper inflationary environment that stemmed from exchange rate liberisation in February last year.
Former NMB Bank founder Mr Julius Makoni started his banking business with the intention to harvest money from the financial institution for himself, the High Court ruled in a case in which the banker was refusing to settle more than $1.1 million advanced to one of his Trusts.
NMB Bank has opened a sub-branch in Bindura to provide existing and potential customers in Mashonaland Central with ready access to its banking services and products.
The Bankers Association of Zimbabwe (BAZ) has elected FBC Bank managing director, Mr Webster Rusere, as its president taking over from Dr Charity Jinya. He would lead the organisation for two years and will be deputised by NMB Bank chief executive, Mr Benefit Washaya.
A Zimbabwean bank is battling to contain a flight by depositors after a social media hoax message advised customers to withdraw their money.
The Reserve Bank of Zimbabwe has confirmed that NMB Bank is in a safe and sound financial position. It says the bank is not facing any liquidity challenges and is not threatened with curatorship, as alleged in a message being circulated on social media. “We have learnt with concern that there is a message being […]