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BizDay Zimbabwe

Zimbabwe's leading authority on business, finance and investment news.

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BizDay Zimbabwe

FBC

FBC gets US$10m line of credit

FBC BANK has secured a new US$10 million line of credit from a US bank with view of supporting local industry, the group chief executive, Mr John Mushayavanhu, has said. The line of credit will be extended over a 10-year tenure and carries an interest rate of 7 percent per annum. This is one of the longest lines of credit obtained by a…

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FBCH shelves merger plans

HARARE – Listed financial services group FBC Holdings Limited (FBCH) has put on hold plans to merge its banking and mortgage lending units until the central bank clarifies the banks’ recapitalisation deadlines. The group intends to combine FBC Bank and FBC Building Society as part of strategies to comply with the Reserve Bank of Zimbabwe…

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FBC secures US$40m

LISTED financial services group FBC Holdings’ flagship subsidiary, FBC Bank has secured a US$40 million credit facility from Cairo-headquartered trade finance institution, African Export-Import Bank (Afreximbank).Priscilla Sadomba, the group’s head of marketing and public relations, last week told The Financial Gazette’s Companies & M…

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FBC seeks US$10m

FBC HOLDINGS is negotiating for a US$10 million line of credit with an offshore investor to be repaid over 10 years, chief executive Mr John Mushayavanhu has said. The line of credit is being facilitated by Shore Cape, an international investor which recently bought 7 percent stake of the group, Mr Mushayavanhu said in an interview. “Shor…

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FBC Holdings profits increase 20% to USD8,3Million

FBC HOLDINGS after-tax profit for the half-year period to June 30, 2013 rose 20 percent to US$8,3 million driven by reinsurance, commercial banking and the building society. The group’s earnings capacity continues to be buttressed by its diversity with all subsidiaries except the manufacturing business achieving results than the prior per…

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