Ecobank

Key Figures

Ecobank Zimbabwe Limited (EZW) is a registered commercial bank that is supervised and regulated by the Reserve Bank of Zimbabwe (RBZ). It commenced operations in Zimbabwe in January 2011 after ETI acquired a controlling stake in Premier Banking Corporation. It has 12 branches.

In the year 2012 the Bank returned to profitability after growing its loan portfolio and customer deposit by 57% and 157% respectively.

Summary of key financials, including total assets, asset growth, market share, ROE and earnings over 6-year period.

YEAR	2015	2016	2017	2018	2019	2020
	USD '000	USD '000	USD '000	USD '000	USD '000	USD '000
Total Revenues	28, 188.00	34, 540.00	58, 015.00	83, 181.00	72, 103.57	65, 503
Profit Before Tax	7, 337.00	13, 356.00	31, 422.00	52, 974. 06	61, 244.76	*53, 552
Net Income	5, 170.00	9, 858.00	22, 027.00	38, 380.06	47, 500.12	45, 439
ROE	11%	17%	29%	36%	94%	128%
ROA	3%	3%	6%	5%	13%	18%
Net Interest Margin	10%	14%	22%	24%	27%	47%
Cost to Income Ratio	58%	48%	39%	33%	15%	18%
Deposits	151, 920.00	271, 424.00	433, 993.00	896, 189.00	360, 260.61	406, 378
Loans	165, 839.00	132, 804.00	157, 065.00	206, 191.00	35, 660.78	93, 808
Loans to Deposit Ratio	109%	49%	36%	23%	10%	25%
NPL	1%	1%	2.45%	3.8%	1.86%	0.15%
Loan coverage Ratio	57%	196%	125%	64%	222%	241%
Market Share Deposits	9%	7%	8%	9%	9%	9%
Market Share Loans	5%	6%	5%	5%	5%	5%

*PBT reduced as a result of hyper-inflation

In the outlook, Ecobank Zimbabwe limited remains positive about the prospects for further growth in its franchisers to support customer growth in its chosen niche markets. The Bank will continue to exploit the environment to identify opportunities and be adaptive as we maintain an organic growth trajectory.

The Bank will avail its prowess and actively participate in facilitating the financing of critical and other essential imports during these challenging times.

General Information

Area: 390,757 sq km

Capital: Harare

Principal cities: Bulawayo, Gweru, Mutare, Masvingo

Official language: English, Shona, Ndebele

Independence day: 18th April

Population: 15.203 million (2021est.)

Demographic growth: 1.47%

Life expectancy: Male: (2019) 59.6 years • Female: (2019) 63.9 years

Literacy rate: 88 %

Religion(s): Syncretic (part Christian, part indigenous beliefs) 50%, Christian 25%, indigenous beliefs 24%, Muslim and other 1%

Human development index: 0.571

Currency: Multi currency system

GDP: $18.05 billion (2020 est.)

GDP per capital: $ 1,128.21 (2020 est.)

Growth rate: -8.0% annual change (2020)

Rate of unemployment: 98% (2020)

Rate of inflation: 557.21% (2020 av)

Net budgetary position: 82% of GDP

Balance of payment: -US$ 408,069,305 billion

Export partners: South Africa 69%, United Arab Emirates 12%, Mozambique 7%, Zambia 3%, China 2% (2016)

Import partners: South Africa 43%, United Kingdom 17%, United States 7%, Zambia 7%, China 5% (2016)

Contribution of various sectors to GDP: Agriculture: 18% Mining and Quarrying 16%, services: 65% (2020 est.)

Board of Directors

Promise Ncube

Non-Executive Board Chairman

Moses Kurenjekwa

Executive - Managing Director

James Shumbanhete

Executive - Finance Director

Maureen Svova

Non -Executive Director

Raymond Fordwuo

Non-Executive Director

Tinoziva Bere

Non-Executive Director

Gamaliel Bwanya

Non -Executive Director

Elizabeth Rabvukwa

Non-Executive Director

Colletor Chipfumbu-Kangara

Non-Executive Director

Annual Reports

2025 Ecobank Chad joins Proparco's Trade Finance programme, launched in 2018 with Ecobank Group	View
2025 Thunes and Ecobank Group To Power Africa’s Instant Payments for the Next Billion Users	View
2025 Ecobank 9M 2025 Earnings Release	View

ECOBANK ZIMBABWE LIMITED BOARD CHANGES ANNOUNCEMENT PDF 1.03 MB	Download - ECOBANK ZIMBABWE LIMITED BOARD CHANGES ANNOUNCEMENT
New account application form -- Individual PDF 590.45 KB	Download - New account application form -- Individual
New account application form -- Entities (incorporated and non-incorporated) PDF 619.65 KB	Download - New account application form -- Entities (incorporated and non-incorporated)

Please select a country below