FBC Holdings Limited (FBCH) has secured regulatory approval to merge FBC Bank Limited and FBC Building Society, with the consolidation taking effect on December 30, aimed at streamlining operations and strengthening the group’s financial services platform.
FBC Building Society, or FBCBS, is a mortgage finance institution mandated to mobilise savings and to promote homeownership in Zimbabwe, with the entity having several construction projects under development.
Consequently, the merger between FBCBS and the banking subsidiary will see the former’s banking assets and liabilities transferred to the latter, with its property portfolio being housed under FBC Properties.
As of June 2025, FBCBS had a net regulatory capital of ZiG687,5 million, while FBC Bank had ZiG1,51 billion, which were both above the statutory amounts of ZiG538,91 million and ZiG808,37 million, respectively.
“Following the publication in the Government Gazette on December 12, 2025 and in accordance with Section 25(4) of the Banking Act [Chapter 24:20], the FBC Group is pleased to advise that the Minister of Finance, Economic Development and Investment Promotion has granted approval for the merger of FBC Bank Limited and FBC Building Society,” FBCH said in a
statement.
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“This approval follows the joint application submitted by the two institutions in terms of Section 25(2) of the Act, seeking authorisation for the proposed consolidation.
“FBCH is, therefore, pleased to confirm that the necessary statutory approval has been obtained, enabling the group to proceed with the integration of the two institutions in line with the approved restructuring
programme.”
FBCH said FBC Bank is registered as a banking institution under the Banking Act [Chapter 24:20], while FBCBS was registered under the Building Societies Act [Chapter 24:02].
“Both entities are wholly owned subsidiaries of FBC Holdings Limited. To facilitate the merger: 1. FBC Building Society will transfer all assets and liabilities (including all accounts) relating to its banking business to FBC Bank Limited,” FBCH said.
“2. Assets and liabilities (including all accounts) related to its property portfolio, will be transferred to FBC Properties (Private) Limited, another wholly owned subsidiary of
FBCH;
“3. Upon completion of these transfers and regulatory processes, FBC Building Society will cease to exist as a separate legal entity.”
FBCH said the merger would operationally be effective on December 30, 2025.
“The integration process is taking place in close consultation with all regulatory authorities to ensure a smooth transition for customers, employees, and stakeholders.
“This internal restructuring does not alter the shareholding structure of FBCH, nor does it introduce new risks or change the group’s financial outlook.
“The transaction is expected to enhance operational efficiency, streamline regulatory compliance, and strengthen the group’s strategic positioning in the financial services sector.”
FBCH is expected to continue updating shareholders and stakeholders as the implementation progresses and as further regulatory steps are concluded.
Total assets for the group were recorded at ZiG21,82 billion as of June.
