Allied Bank Zimbabwe Limited is no longer operating. The Reserve Bank of Zimbabwe cancelled the bank’s license on January 8, 2015, determining that the bank was “no longer in a safe and sound condition, grossly undercapitalised and facing chronic liquidity challenges.”
⚠️ Important Notice
Allied Bank Zimbabwe closed in 2015 and no longer offers any banking services. This article is preserved for historical reference only. If you need banking services in Zimbabwe, please see the alternatives listed below.
📜 History of Allied Bank Zimbabwe
Allied Bank Zimbabwe was established in 2005 as Zimbabwe Allied Banking Group (ZABG). The bank was formed through a merger of the assets and some liabilities of three distressed financial institutions:
- Barbican Bank Limited
- Trust Banking Corporation
- Royal Bank Zimbabwe
All three predecessor banks were in financial distress at the time of the merger. Despite the consolidation, Allied Bank Zimbabwe faced ongoing challenges and ultimately could not maintain financial viability.
📅 Timeline
| 2005 | Zimbabwe Allied Banking Group (ZABG) established from three merged distressed banks |
| 2005-2014 | Operated as commercial bank in Harare, Zimbabwe |
| January 8, 2015 | Reserve Bank of Zimbabwe cancels banking license |
🏛️ Alternative Banks in Zimbabwe
If you’re looking for banking services in Zimbabwe, consider these active financial institutions that offer digital banking:
- CBZ Bank – Largest bank in Zimbabwe with comprehensive digital services
- FBC Bank – Offers mobile and internet banking
- BancABC Zimbabwe – Features Mastercard and ZimSwitch co-branded cards
- Stanbic Bank Zimbabwe – Part of Standard Bank Group
- NMB Bank – Offers digital banking solutions
💳 Digital Banking in Zimbabwe (2026)
Zimbabwe’s digital finance sector has seen significant growth. According to the Reserve Bank of Zimbabwe, digital retail transactions reached $5.93 billion in Q2 2026, a 34% increase from Q1. The national payment switch ZimSwitch enables seamless interbank transfers and has improved financial inclusion across the country.
Key digital payment options in Zimbabwe include:
- ZIPIT: ZimSwitch’s instant payment platform for account-to-account transfers
- EcoCash: Leading mobile money platform
- OneMoney: NetOne’s mobile money service
- Bank Mobile Apps: Most major banks offer smartphone banking
❓ Frequently Asked Questions
Is Allied Bank Zimbabwe still operating?
No. Allied Bank Zimbabwe’s banking license was cancelled by the Reserve Bank of Zimbabwe on January 8, 2015. The bank is no longer operating.
Why did Allied Bank Zimbabwe close?
The Reserve Bank of Zimbabwe determined the bank was ‘no longer in a safe and sound condition, grossly undercapitalised and facing chronic liquidity challenges.’
What was Allied Bank Zimbabwe?
Allied Bank Zimbabwe was established in 2005 as Zimbabwe Allied Banking Group (ZABG), formed from the merger of three distressed banks: Barbican Bank, Trust Banking Corporation, and Royal Bank Zimbabwe.
What banks can I use in Zimbabwe now?
Active banks in Zimbabwe include CBZ Bank, FBC Bank, BancABC, Stanbic Bank Zimbabwe, and NMB Bank. All offer digital banking services and connect through the ZimSwitch payment network.
Last Updated on January 4, 2026
URL: https://log-in.me/alliedbankzimbabwelimited-harare-zimbabwe/