The Reserve Bank of Zimbabwe, through the Registrar of Banking Institutions, published a public notice that FBC Bank Limited and FBC Building Society have applied to the Minister of Finance, Economic Development and Investment Promotion for approval to merge under the Banking Act. The notice explains that FBC Bank Limited is registered as a banking institution under the Banking Act and FBC Building Society is registered as a building society under the Building Societies Act, with both entities being subsidiaries of FBC Holdings Limited. To implement the merger, FBC Building Society would transfer all assets and liabilities related to its banking business and operations to FBC Bank Limited, while transferring assets and liabilities related to its property business and operations to FBC Properties (Private) Limited under a draft Restructuring Agreement, after which FBC Building Society would cease to exist. The draft Restructuring Agreement will be available for public inspection for 21 days from publication of the notice in the Government Gazette, and written objections or representations must be lodged with the Registrar of Banking Institutions within the same 21-day period.
Reserve Bank of Zimbabwe 2025-10-17
Reserve Bank of Zimbabwe opens 21-day public objection window for proposed merger of FBC Bank and FBC Building Society
The Reserve Bank of Zimbabwe announced FBC Bank Limited and FBC Building Society have applied to merge under the Banking Act. The merger involves transferring FBC Building Society's banking assets to FBC Bank Limited and property assets to FBC Properties (Private) Limited, leading to FBC Building Society's dissolution. The draft Restructuring Agreement is open for public inspection for 21 days, during which objections can be submitted.