NMB Bank to set up US$3,5m property subsidiary

NMB BANK says it has been given the nod by the Reserve Bank of Zimbabwe (RBZ) to set up a US$3,5 million property company which will be launched in the next 30 days.

NMB Bank, which was crowned Zimbabwe’s best bank in the Zimbabwe Independent Banks & Banking Survey 2022, is seeking to diversify its portfolio into other sectors.

NMB chief executive Gerald Gore told analysts at the group’s condensed audited results last Friday that they are looking forward to capacitating this new property subsidiary using capital that is already available in its coffers.

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