Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Zimbabwe to Set New Capital Requirements for Banks, News Says

Feb. 2 (Bloomberg) -- Zimbabwe will raise capital requirements for banks from $12.5 million, the Daily News said, citing central bank Governor Gideon Gono.

Gono didn’t say how much the banks would have to maintain as minimum capital, the Harare-based newspaper said. Twenty of Zimbabwe’s 25 licensed banks have capital reserves in excess of $12.5 million, it said.

Barbican Bank (Pvt) Ltd. may lose its license after failing to open a year after it was licensed, Daily News said. Royal Bank (Pvt) Ltd. and Zimbabwe Allied Banking Group (Pvt) Ltd. have less than $12.5 million in capital reserves, it said.

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.