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Kingdom Bank to grow operations


Kingdom Financial Holdings , a Zimbabwean owner of banking and investment companies, said it plans to almost double its market share this year after selling a 35% stake to AfrAsia Bank Ltd of Mauritius.

The Harare-based lender plans to boost its market share to 6% from 3,4% now, chief executive officer Lynn Mukonoweshuro said in an interview on Tuesday in Port Louis, the Mauritian capital.

Kingdom then plans to increase that to as much as 12% within the next three years, she said. Kingdom Bank , the Zimbabwean groups largest unit, operates through 26 branches and has assets of $155 million, it said in a statement handed to reporters on Tuesday.

The lender plans to open four more outlets this year, Mukonoweshuro said.

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