BULAWAYO – Capital Bank Corporation Limited (CBCL) has put behind its past failures and is striving to reach for a new future in banking, bank managing director Lawrence Tamayi has said.
Report by Khanyile Mlotshwa
Speaking at the launch of the recently rebranded CBCL from ReNaissance Merchant Bank in Bulawayo last Friday, Tamayi said since the coming on board of the National Social Security Authority (NSSA) as a major shareholder, CBCL was prepared to weather the storms around the Zimbabwean economy.
“Our bank went through turbulent times,” Tamayi said.
“I guess you know what kind of steward you had at that time. We are pleased to have NSSA as our main shareholder. NSSA’s decision to come aboard has stabilised the bank. The financial services sector, the economic and the political climates, remain fragile. The financial services sector still faces uncertainty. The recent collapse of some banks is an example.”
Tamayi said CBCL’s rebranding “will be far more than pretty pictures. We are determined to rebuild the lost confidence. We will focus on skills development and developing systems that support our clients. We want to open clear communication channels. It is easy to destroy, but very hard to rebuild. It requires tenacity. We are reviving our business model in order to reach a far wider client base through technology”.
CBCL board chairperson Joseph Kanyekanye said: “With a bit of attitude, this is what a bank with serious legacy issues can become, a bank that is prepared to be the biggest in the country.”
He said the country still faced numerous challenges, including a huge trade deficit. “As a country, we have a lot to sort out and at Capital Bank, we should be part of that sorting out,” he said.