New Zimbabwe.com

Barclays changes name to First Capital Bank

By Alois Vinga

BARCLAYS Bank of Zimbabwe Limited says with effect from next Monday, it shall be trading under a new name, First Capital Bank Limited following the entity’s takeover some two years ago.

The bank’s head of corporate affairs and customer service, Emily Nemapare told the media that the decision to change the trade name was reached at an Extraordinary General Meeting held on July 3 2018 where members unanimously resolved to approve the change of name from Barclays Bank of Zimbabwe Limited to First Capital Bank Limited.

Nemapare confirmed that the Registrar of companies had approved and registered the new name.

“The new name of the Company shall be effective from 8 October 2018 on the Zimbabwe Stock Exchange. Following the change of name, the abbreviated name of the Company shall be FCAZW,” she said.

The financial institution’s shareholders were also advised that it is not compulsory for them to change share certificates and urged those wishing to do so to visit the respective offices.

“However, shareholders who intend to change their share certificates should contact Transfer Secretaries in 2nd Floor ZB Centre, Kwame Nkrumah Avenue, Harare,” Nemapare added.

Malawi-based First Merchant Bank (FMB) acquired an effective 42,7 percent shareholding in Barclays Bank Zimbabwe. This was after Barclays Plc sold off its 62,3 percent stake in Barclays Africa Group to focus more on its transatlantic operations.

FMB holds considerable stakes in several banks in the Southern Africa.

It holds a 70 percent stake in Capital Bank S.A, a licensed commercial bank in Mozambique and a 38,6 percent shareholding in Capital Bank incorporated in Botswana. It also has a 49 percent stake in First Capital Bank, of Zambia.