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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.
- Board of Directors
Emmanuel Gwatidzo
Chairman
Moses Kurenjekwa
Executive – Managing Director
Cheikh Travaly
Non-Executive Director
James Shumbanhete
Executive – Finance Director
Hilda Shindi
Non-Executive Director
Florence Sigudu
Non-Executive Director
Promise Ncube
Non-Executive Director
Raymond Fordwuo
Non-Executive Director
Tinoziva Bere
Non-Executive Director
Gamaliel Bwanya
Non -Executive Director