ZIMBABWE Stock Exchange (ZSE)-listed financial institution, FBC Holdings, has completed the integration of its building society operations into its commercial bank.
“FBC Holdings Limited wishes to advise its valued customers, shareholders and the general public that the merger between FBC Bank Limited and FBC Building Society has been successfully implemented and is operationally effective as of December 30, 2025,” the bank’s group company secretary Tichaona Mabeza said in a statement.
This follows the Finance, Economic Development and Investment Promotion ministry’s approval of the merger last month.
“(The) merger was undertaken in accordance with the Banking Act [Chapter 24:20] and followed all required regulatory approvals, including approval by the Minister of Finance, Economic Development and Investment Promotion, as gazetted on December 12, 2025,” Mabeza said.
The company official explained that the cancellation of the FBC Building Society licence meant that the institution ceased to exist and its banking business would be transferred to the commercial bank.
Mabeza further indicated that all former building society customers will be integrated into FBC Bank.
He assured stakeholders that customers’ deposits, accounts and contractual obligations remained safe, intact and fully accessible.
Mabeza further explained that the merger will not result in any changes in the FBC Holdings structure or financial stability.
- Zimbabwe’ banks are bleeding
- In Conversation with Trevor: Livingstone Gwata: Why I retired early
- Inside listed companies: Listed companies stand their ground in difficult year
- Zimbabwe’ banks are bleeding
Keep Reading
The building society was founded in 1992 as the Zimbabwe Building Society (ZBS), before being renamed FBC Building Society in 2005, when FBC Holdings acquired a controlling stake in the company.
Former Cabinet minister Francis Nhema’s family owned 60% of the building society at the time and relinquished it to FBC Holdings in exchange for a 3,5% stake in the financial institution's holding company.
The FBC Holdings merger leaves Zimbabwe with just two building societies — the Old Mutual-owned CABS and the National Building Society, which is owned by the National Social Security Authority.
