First Capital Bank Mozambique
TypePublic company
IndustryFinancial services
Founded2010 (2010)
Headquarters
Maputo
,
Mozambique
Key people
Hitesh Anadkat (Chairman), João Rodrigues (Chief Executive Officer)
ProductsLoans, Savings, Checking, Investments, Debit Cards, Mortgages
RevenueIncreaseAftertax: MZN:33,366,951 (US$500,000+) (June 2019)[1]
Total assetsMZN:4,316,793,808 (US$65.2 million) (June 2019)[1]
Number of employees
94 (2018[2])
ParentFMB Capital Holdings
Websitewww.firstcapitalbank.co.mz

First Capital Bank Mozambique (FCBM) is a commercial bank in Mozambique. It is licensed by the Bank of Mozambique, the central bank and national banking regulator.[3]

FCBM is a subsidiary of FMBCapital Holdings Plc, a financial services conglomerate, based in Mauritius, whose shares of stock are listed on the Malawi Stock Exchange and has subsidiaries in Botswana, Malawi, Mozambique, Zambia and Zimbabwe.[4]

The bank serves corporations, small and medium enterprises and individuals in Mozambique. As of June 2019, the bank's total assets were MZN:4,316,793,808 (US$65.2 million), with shareholders' equity of MZN:870,972,962 (US$13.2 million).[1] As of December 2018, the bank served over 16,000 customers at 4 branches, one service centre, 6 ATMs and employed 94 staff members.[2]

History

The bank was established in 2010 as International Commercial Bank Mozambique. In 2013, First Merchant Bank of Malawi successfully acquired the subsidiaries of International Commercial Bank in Malawi, Mozambique and Zambia. Although the banking business of ICB Malawi was not viable, FMB was able to enter into the other two countries through the acquisition.[5]

In December 2017, First Capital Bank Mozambique became a subsidiary of First Merchant Bank Capital Holdings Plc, of Mauritius, whose shares trade on the Malawi Stock Exchange (MSE), under the symbol: FMBCH[6]

Ownership

FMBCapital Holdings Plc maintains an 80 percent shareholding in First Capital Bank Mozambique Limited.[4]

See also

References

  1. 1 2 3 First Capital Bank Mozambique (August 2019). "Financial Statements For The Six Months Ended 30 June 2019" (PDF). First Capital Bank Mozambique. Retrieved 8 April 2020.
  2. 1 2 FMBCapital Plc (31 May 2019). "Annual Report and Financial Statements For The 12 Months Ended 31 December 2018: What We Do And Where We Do It: Mozambique" (PDF). Ebene, Mauritius: FMBCapital Holdings Plc. p. 15. Retrieved 8 April 2020.
  3. ↑ Bank of Mozambique (2020). "List of Licensed Banks in Mozambique" (In the original Portuguese Language). Maputo: Bank of Mozambique. Retrieved 8 April 2020.
  4. 1 2 African Financials (18 May 2018). "Profile of FMBCapital Holdings Plc". Africanfinancials.com. Retrieved 8 April 2020.
  5. ↑ CFTC Malawi (16 December 2013). "Takeover / Merger between First Merchant Bank and International Commercial Bank". Lilongwe: Competition and Fair Trading Commission of Malawi (CFTC Malawi). Retrieved 8 April 2020.
  6. ↑ Alfred Chauwa (20 September 2017). "FMB Shareholders Make Historic Malawi Stock Exchange Debut". United Kingdom: Nyasa Times. Retrieved 8 April 2020.

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