CFX Bank, whose full name is CFX Bank Limited, was a
commercial bank in
Zimbabwe. It was one of the licensed commercial banks in the country.
History
The bank was founded in 2006, as a 100% subsidiary of CFX Financial Services Limited, its holding company, whose shares trade on the
Zimbabwe Stock Exchange. The bank has two (2) affiliated companies: (a) CFX Asset Management and (b) CFX Merchant Bank, both of which are also 100% owned by the holding company. In 2009, as a result of changes in Zimbabwean banking laws, Interfin Holdings Limited, acquired a controlling interest in CFX Financial Services. Subsequently, the holding company was renamed Interfin Financial Services Limited, to reflect the new ownership. The trading symbol for the new bank holding company is: INTERFIN. The
Government of Zimbabwe
The politics of Zimbabwe takes place in a framework of a full presidential republic, whereby the President is the head of state and government as organized by the 2013 Constitution. Executive power is exercised by the government. Legislative pow ...
has given formal approval of the takeover of CFX Bank by Interfin. The
Reserve Bank of Zimbabwe has also signaled its approval of the merger of the two institutions.
Ownership
CFX Bank was a publicly traded company. The shares of
stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
of its holding company, Interfin Financial Services Limited are listed on the
Zimbabwe Stock Exchange, where they trade under the symbol: INTERFIN. An ownership dispute exists, with the former director of ENG Capital Group claiming that assets were illegally acquired by CFX Bank
The five largest shareholders of record in INTERFIN and thus CFX Bank are:
See also
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Interfin Bank
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List of banks in Zimbabwe
This is a list of "Operating Banking Institutions" in Zimbabwe.
# Agricultural Development Bank of Zimbabwe
# BancABC Zimbabwe
# CABS
# CBZ Bank Limited
# First Capital Bank Limited
# Ecobank Zimbabwe Limited
# FBC Bank Limited
# Nedbank ...
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Reserve Bank of Zimbabwe
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Zimbabwe Stock Exchange
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Economy of Zimbabwe
The economy of Zimbabwe mainly relies on the tertiary sector of the economy, also known as the service sector of the economy, which makes up to 60% of total GDP as of 2017. Zimbabwe has the second biggest Informal economy in the world as a perc ...
References
External links
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Listed Companies At Zimbabwe Stock Exchange
{{DEFAULTSORT:Cfx Bank
Banks of Zimbabwe
Banks established in 2006
Companies listed on the Zimbabwe Stock Exchange
Companies based in Harare