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Nedbank Zimbabwe Now Compliant With The Minimum Capital Requirement Of USD30 Million

2 years agoMon, 14 Feb 2022 15:59:32 GMT
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Nedbank Zimbabwe Now Compliant With The Minimum Capital Requirement Of USD30 Million

The Reserve Bank of Zimbabwe (RBZ) has announced that Nedbank Zimbabwe is now compliant with the minimum capital requirement of ZW$ equivalent to USD30 million.

NEDBANK ZIMBABWE LIMITED COMPLIANCE WITH THE MINIMUM CAPITAL REQUIREMENTS

Further to the announcement in the Monetary Policy Statement of 7 February 2022 that, Nedbank Zimbabwe Limited was non-compliant with the minimum capital requirement as at 31 December 2021, the Bank is pleased to advise the public that, Nedbank Zimbabwe Limited has raised additional capital through a rights issue and is now compliant with the minimum capital requirement of ZW$ equivalent to USD30 million.

Accordingly, Nedbank Zimbabwe’s reported minimum capital as at 9 February 2022 is ZW$ equivalent to USD31.1 million, against the regulatory minimum of the ZW$ equivalent to USD 30 million.

John P. Mangudya

Governor

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