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About ZB Bank Limited

ZB Bank Limited merged with ZB Building Society to meet new capital requirements by the Reserve Bank of Zimbabwe. ZB Building Society was established in 1954 and registered under the Zimbabwe Building Societies Act. It is a subsidiary of ZB Financial Holdings Limited which operates a network of fifty four (54) branches throughout the country.  All branches are referral points for the Society’s core business which is the provision of residential mortgage finance targeted to benefit all income segments, that is, those in the low, middle and upper incomes across Zimbabwe.

ZB Bank Ltd’s offerings

ZB Building Society offers a wide range of products designed to meet the needs of its varied customers. The products can be grouped into three main categories: Savings and current account products, short term loan products and mortgages.

Savings and Current Accounts

These are for routine transactions and are accessed through ATMs, Point of Sale (POS) devices, banking halls and e-wallet.  The Society also caters for financial inclusion and to this effect, the Informal Savings Account is targeted at the hugely unbanked public. In addition, treasury related products are also offered.

Loan Products

The Society offers short-term loans with a minimum term of six (6) months and up to twenty-four (24) months.  These loans are offered against acceptable investment security.

ZB Building Society’s core business is mortgage financing. The overall demand for mortgage loans in Zimbabwe exceeds the supply.

The following mortgage loans are offered by the Society:

Ordinary Mortgage Loan: This is when a customer pays a stipulated deposit to purchase a completed residential property and a bond is registered.

Building Loan: This is when a customer borrows for construction.

Flexi-Mortgage loan: As the name implies, this is a loan advanced to customers for which they are not restricted as to its use. It however has to be secured by registration of a bond against a property.

Company Supported Mortgage Loan: This is offered to corporates who want to assist their employees to either purchase existing property or build.  The corporate would invest with the society an equivalent amount to be advanced to eligible company employees.  The mortgage rate is negotiated.

Participation In Housing Development

The housing backlog in Zimbabwe’s urban centres is ever-growing.  Over and above the offering of mortgage finance, the Society has over the years developed and delivered its own housing projects throughout the country mainly in the high and medium density segments.  Between 1993 and 1999 ZB Building Society successfully partnered with USAID in administering and on lending mortgage financing targeted at low income earners.  The Society has delivered 2500 houses countrywide.

Current Housing Projects

The Society has recently completed servicing a high to medium density residential development 20km from Harare City Centre.  The development, known as Springvale Park was approached in two phases and comprises of 800 residential stands ranging in sizes from 300 to 2000 square metres.  The servicing entailed full installation of on-site and off-site infrastructural services.  The Society will offer mortgage finance to enable beneficiaries to build.