Articles tagged 'nedbank'

Nedbank buying back shares from minority shareholders 17 October 2018 HARARE - NEDBANK Group (Nedbank) says it will pay R2 billion (approximately US$139,6 million) to minority shareholders inherited from Old Mutual. The South Africa-based financial institution, which owns Nedbank Zimbabwe, yesterday said it is buying back its stock from shareholders who hold les...
Nedbank promises fireworks 24 March 2018 HARARE - Nedbank Zimbabwe (formerly MBCA Bank) says the changeover will be twinned with a mix of “agility” and “responsiveness” to market needs, as it mounts a new plan to improve competitiveness. Managing director Charity Jinya, pictured, told reporters in Harare this week that the factors we...
MBCA changes name, launches new banking system 15 March 2018 HARARE - MBCA Zimbabwe this week changed its name to Nedbank Zimbabwe after the registrar of companies approved the change of its corporate identity as part of efforts to spur growth. The Nedbank Group is the fourth largest bank in South Africa by market share and customer numbers. Nedbank ...
MBCA record $7,8 million profit 5 March 2018 HARARE - MBCA Bank reported a 40 percent increase in profit after tax to $7,8 million for the year to December 31 2017 from $5,6 million recorded in 2016. The Nedbank subsidiary said the profit was achieved due to a 19 percent rise in non-interest income supported by increased volume of transa...
Zimasco burns in 'financial, political storm' 10 June 2016 HARARE - Ferrochrome producer Zimasco (Private) Limited has won a judicial management order to preserve its assets amid revelations that the company was sitting on a ticking time-bomb related to its “toxic” environmental management policy. This also comes as the Chinese-owned metals group has ...
MBCA unveils new products 19 April 2016 HARARE - MBCA bank, one of the largest privately held financial institutions in Zimbabwe with over $240 million in assets, has unveiled new products aimed at making home improvement and equity release loans more accessible. The bank's head of marketing, Dedrey Mutimutema, told businessdaily th...
MBCA profit up 43pc 7 August 2015 HARARE - MBCA Bank, a unit of South Africa's Nedbank group, recorded a 42 percent surge in profit to $2,65 million in the half year to June 2015 from $1,87 million in the comparable period due to an increase in net interest income. MBCA managing director Charity Jinya said the financial instit...
Nedbank's Zim unit indigenised 10 March 2015 HARARE - Nedbank Group Limited (Nedbank)'s Zimbabwean unit MBCA Bank (MBCA) has been indigenised in line with the country's empowerment policy. The bank – 74 percent owned by the South African Nedbank – said its empowerment compliance plan was approved by Zimbabwe's Indigenisation ministry. ...
MBCA to rebrand to Nedbank 17 December 2014 HARARE - South Africa-based financial group Nedbank plans to rename its local unit MBCA Bank to Nedbank Zimbabwe next year, businessdaily has learnt. Nedbank holds a 74 percent stake in MBCA, one of the six foreign-owned banks operating in Zimbabwe. Charity Jinya, MBCA’s managing director, ...
MBCA pursues Nedbank facility 23 March 2014 HARARE - MBCA Bank (MBCA) — a unit of Nedbank group — says it is working on accessing loan financing from Export Credit Insurance Corporation (ECIC) of South Africa. “The bank (MBCA) is in contact with our clients to work on modalities for them to access Nedbank Capital's ECIC backed facility,...