Articles tagged 'trust bank'

Auctioneers sink teeth in economic strugglers 16 August 2015 HARARE - As the Zimbabwe economy continues to choke, throwing workers onto the streets and companies closing down, there have been a few smiles elsewhere as a result of this carnage. It is the auctioneer who is smiling all the way to the bank. And as fate would have it, some of the banks ar...
Trust Bank given opportunity to secure investors 28 January 2015 HARARE - The Reserve Bank of Zimbabwe (RBZ) says defunct Trust Bank Corporation Limited (Trust Bank) shareholders have until April 8, 2015 to secure new investors. Trust Bank, owned by William Nyemba’s Trust Holdings Limited (THL), was placed under provisional liquidation by the High Court in ...
Trust liquidation set aside 30 March 2014 HARARE - Zimbabwe's High Court has set aside a liquidation order imposed by the Reserve Bank of Zimbabwe (RBZ) against Trust Bank (Trust). The central bank had approached the Court seeking to liquidate Trust arguing the bank was undercapitalised with a core capital of $1,9 million against the ...
Trust Bank challenges DPC 27 January 2014 HARARE - Closed Trust Bank Corporation Limited (Trust) has petitioned the Deposit Protection Corporation (DPC) to hold off compensation processes for depositors and the disposal of assets. This comes as the financial institution has lodged an Administrative Court appeal against its hasty closu...
Trust Bank liquidation postponed 23 January 2014 HARARE - Zimbabwe's High Court has postponed Trust Bank (Trust)'s liquidation process to February 18 following a successful challenge by the financial institution's lawyers. Represented by Thabani Mpofu, the bank chiefly argues that depositors are unlikely to support outright closure of the in...
Spare a thought for our banks 9 December 2013 HARARE - The withdrawal of Trust Bank Corporation’s banking licence is yet another sad story for the fragile sector. On Friday the bank had its licence revoked for corporate malfeasance and undercapitalisation to end any hopes of revival which had been anchored on a deal negotiated by its mana...
Trust courts foreign investors 19 November 2012 HARARE - Trust Banking Corporation (TBC) says negotiations with three potential investors to inject money to meet the central bank s capital requirements are at an advanced stage. William Nyemba, TBC chief executive, told businessdaily that the investors were all foreign and hoped a deal would be...
Branch expansion weighs down Trust 30 August 2012 HARARE - Trust Holdings flagship, Trust Bank, posted a $2,18 million loss for the half year ended June 30 2012 as a result of an extensive branch rebuilding exercise and roll out programme that it underwent to resume operations. Trust Holdings chief executive William Nyemba said the majority of i...