Business Performance of the Zimbabwe Banking Corporation (2002- 2005): A Documentary Review
Journal Title: International Journal of Financial Markets - Year 2016, Vol 2, Issue 3
Abstract
This study sought to establish the business performance of Zimbabwe Banking Corporation (ZIMBANK), a subsidiary of Financial Holdings Limited, a Zimbabwean company listed on the country’s stock exchange, during the period 2002 to 2005. The performance was evaluated against other financial institutions and against the backdrop of challenges of marketing services as well as the harsh macroeconomic environment obtaining in Zimbabwe during the period covered by the study. Relevant literary sources pertinent to the field and the organisation were consulted to form the theoretical base for the study. The study adopted the case study design where ZIMBANK was chosen as a case study for in-depth investigation. The qualitative methodology was used to collect data. Document review was the dominant data collection instrument.The results of the study revealed that ZIMBANK’s business performance in terms of profitability and viability was weak compared to other financial institutions.Its financial statements recorded losses; there were serious liquidity challenges; there were often no dividends paid to investors, and the bank failed to raise capital for the refurbishment of its premises.
Authors and Affiliations
Ushe Makambe
Keywords
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- EP ID EP28717
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