FBC Bank Limited and FBC Building Society, wholly owned subsidiaries of FBC Holdings Limited (FBCH), will merge their operations effective December 30, 2025.
This comes after the financial institutions obtained the requisite approval from the Ministry of Finance, Economic Development and Investment Promotion.
FBC Bank and the building society are merging operations in Zimbabwe to create a single, stronger banking entity, driven by regulatory requirements for increased capital.
It is expected that the transaction will drive operational efficiencies, cost reduction through automation, digital transformation, enhanced competitiveness, better customer service, and a wider product range, among other benefits.
The merger, which has been under consideration for slightly over 10 years, will result in the dissolution of FBC Building Society as a distinct legal entity.
The internal restructuring exercise will not alter the shareholding structure of FBC Holdings Limited, introduce new risks or change the group’s financial outlook.
FBC Bank is registered as a banking institution under the Banking Act [Chapter 24:20], while FBC Building Society is registered under the Building Societies Act [Chapter 24:02].
In a trade update to stakeholders, group company secretary, Mr Tichaona Mabeza, said the approval was published in the Government Gazette on December 12, 2025, in line with Section 25(4) of the Banking Act [Chapter 24:20].
“Following the publication in the Government Gazette on 12 December 2025 and in accordance with Section 25(4) of the Banking Act [Chapter 24:20], the FBC Group has notified stakeholders that the Minister of Finance, Economic Development and Investment Promotion has granted approval for the merger of FBC Bank Limited and FBC Building Society,” said Mr Mabeza.
“This approval follows the joint application submitted by the two institutions in terms of Section 25(2) of the Act, seeking authorisation for the proposed consolidation.
“FBCH is therefore pleased to confirm that the necessary statutory approval has been obtained, enabling the group to proceed with the integration of the two institutions in line with the approved restructuring programme.”
