Post Office Savings Bank (POSB) is a savings bank owned wholly by the government of Zimbabwe. Founded in 1904, it was split up in 2001. This was a move to commercialize the bank and resulted in the creation of Net-One, Tel-One, and Zimpost and a standalone bank still called POSB.[1].

Post Office Savings Bank (POSB)
Industry Financial Services
Fate active
Founded 1904
Headquarters Harare, Zimbabwe
Key people
Admore Kandlela - CEO
Owner Government of Zimbabwe
Number of employees
453 (2018)
Website http://www.posb.co.zw

In 2016, the bank was fined $500 000 by the Reserve Bank of Zimbabwe after some of its employees reportedly took pictures of bond notes in the bank's vault and posted them on social media[2]. The Reserve Bank was about to release the bond notes into circulation and possibly was safeguarding against counterfeiting.


Some Articles About POSB

POSB head of finance told to step down after failing to detect .6 million anomaly Wed May 10 2017

POSB fires employees for leaking bond notes images. Bank fined 0 000 Mon Nov 28 2016

See more news on POSB

References

  1. POSB, retrieved: 10 Jul 2018
  2. POSB fires employees for leaking bond notes images. Bank fined $500 000 ⋆ Pindula News, Pindula News, published: 28 Nov 2016, retrieved: 10 Jul 2018