WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-09-09 Time: 14:00:03 Posted By: News Poster
By Golden Sibanda
Harare – Founding shareholders of Royal Bank are courting external partners to inject US$25 million for capitalisation of the returning bank as it seeks to reclaim its position among the country’s leading financial institutions.
Sources close to developments told Herald Business the founding shareholders Mr Jeffrey Mzwimbi and Mr Durajadi Simba had expressed strong desire for an initial capital base of at least US$25 million or at best US$30 million.
Royal Bank is set to return to the local banking sector together with Trust Bank and Barbican Bank after the Reserve Bank of Zimbabwe issued the trio with new separate banking licences, which took effect on the first of this month.
The central bank had consolidated Royal, Trust and Barbican into one bank in 2005 when they faced serious liquidity challenges during the banking sector crisis of 2003-2004, which led to the demise of at least 14 financial institutions.
All things being equal Royal Bank may reopen its doors to the public by December this year, five years after it ceased operations following its incorporation into the Zimbabwe Allied Banking Group, together with Trust and Bar- bican.
Sources told Herald Business that the founding shareholders wanted at least US$25 million as capital base, but this would now depend on how much their external partners would be able to provide in that regard.
The Reserve Bank of Zimbabwe requires commercial banks to have a minimum capital threshold of US$12,5 million and at US$25 million Royal Bank would have twice as much capital as required by the regulatory authorities.
“The founding shareholders (led by Mzwimbi) would have wanted at least US$25 million to start with, but that has to be agreed with external shareholders. Their partners may (however) decide on a lower figure,” said the source.
With a tight liquidity crisis pervading the local economy Royal Bank is definitely going to rope in external shareholders considering many local firms, including banks, have struggled to raise a few million dollars for capitalisation.
Although Royal Bank shareholders had reportedly wanted banking operations to resume at the earliest possible time the unbundling process for ZABG may delay such ambitions, as the amalgamated bank would remain operational.
ZABG has to be given time to relocate from some of the premises it occupies, which belong to Trust, Royal and Barbican and also needs to replace other items that would be repossessed by the three banks after unbundling.
The three banks have since appointed professionals to carry out an audit of assets that would be repossessed.
Sources said the assessment of assets at hand at all ZABG branches and premises which belong to the three banks would enable them to determine what they would need to acquire and what to leave for ZABG’s continuity.
The return of Royal, Trust and Barbican brings to 17 the number of licensed commercial banking institutions in Zimbabwe.
Original Source: 
Published by the government of Zimbabwe
Original date published: 9 September 2010
Source: http://allafrica.com/stories/201009090462.html?viewall=1