TN Bank Zimbabwe
Encyclopedia
TN Bank Zimbabwe Limited, also referred to as TN Bank Zimbabwe, but commonly known as TN Bank, is a commercial bank
in Zimbabwe
. It is one of the regulated banking institutions licensed by the Reserve Bank of Zimbabwe
, the national banking regulator.
. Prior to that, the company had existed as a Finance House since 1999. In 2006, the bank, executed a merger with Trustfin Financial Services Limited. In December 2009, TNFH, the holding company of TN Bank, successfully completed a reverse merger with Tedco, another Zimbabwean enterprise, to form TN Holdings, the parent company of the TN Group of Companies. TN Holdings Limited, besides owning TN Financial Limited, the parent company of TN Bank, also owns TN Medical, an owner-operator of medical facilities including a medical insurance subsidiary, TN Asset Management and TN Harlequin, an upscale home and office furnishings manufacturer and distributor, among other interests.
, under the symbol:TNH.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Zimbabwe
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
. It is one of the regulated banking institutions licensed by the Reserve Bank of Zimbabwe
Reserve Bank of Zimbabwe
The Reserve Bank of Zimbabwe is the central bank of Zimbabwe.-History:The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board....
, the national banking regulator.
Overwiew
TN Bank is a medium-sized retail bank in Zimbabwe. , the total asset valuation of the bank was not publicly known. At that time, the shareholder's equity was valued at US$14 million.History
The bank was established in 2009, as a commercial bankCommercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
. Prior to that, the company had existed as a Finance House since 1999. In 2006, the bank, executed a merger with Trustfin Financial Services Limited. In December 2009, TNFH, the holding company of TN Bank, successfully completed a reverse merger with Tedco, another Zimbabwean enterprise, to form TN Holdings, the parent company of the TN Group of Companies. TN Holdings Limited, besides owning TN Financial Limited, the parent company of TN Bank, also owns TN Medical, an owner-operator of medical facilities including a medical insurance subsidiary, TN Asset Management and TN Harlequin, an upscale home and office furnishings manufacturer and distributor, among other interests.
Ownership
TN Bank is a subsidiary of TN Financial Holdings (TNFH). TNFH is wholly owned by TN Holdings (TNH). TNH is a publicly traded company, whose stock islisted on the Zimbabwe Stock ExchangeZimbabwe Stock Exchange
The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. It has been open to foreign investment since 1993. The exchange has about a dozen members and over 65 listed securities...
, under the symbol:TNH.
External links
- Website of TN Bank Zimbabwe Limited
- Website of Reserve Bank of Zimbabwe
- Banks Recapitalisation Deadline Extended
See also
- List of banks in Zimbabwe
- Reserve Bank of ZimbabweReserve Bank of ZimbabweThe Reserve Bank of Zimbabwe is the central bank of Zimbabwe.-History:The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board....
- Economy of ZimbabweEconomy of ZimbabweThe economy of Zimbabwe has shrunk significantly after 2000, resulting in a desperate situation for the country and widespread poverty from among others 94% unemployment. The participation from 1998 to 2002 in the war in the Democratic Republic of the Congo set the stage for this deterioration by...
- Zimbabwe Stock ExchangeZimbabwe Stock ExchangeThe Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. It has been open to foreign investment since 1993. The exchange has about a dozen members and over 65 listed securities...