CBZ Holdings

Stock performance

History

CBZ's banking arm, the Commercial Bank of Zimbabwe, was formed in 1991 from the Zimbabwean operations of the collapsed Bank of Credit and Commerce International, with the government taking a major stake. It grew into a diversified financial group and the country's largest bank.

Business model

CBZ Holdings provides commercial and retail banking, mortgage finance, insurance, and asset management, and is an important financier of agriculture and government-linked projects. Like other Zimbabwean banks, it operates in a multi-currency environment with much of its business conducted in US dollars.

Market position

CBZ is the largest bank in Zimbabwe by assets and deposits, ahead of rivals such as Stanbic, FBC, and CABS.

Country impact

With the government among its main shareholders, CBZ plays a central role in channeling credit to farmers and to state programs, and its exposure to government debt ties its health to Zimbabwe's fiscal and currency policies.