POSB Zimbabwe Information

The Peoples Own Savings Bank, formerly the Post Office Savings Bank, was established in 1904 as a statutory fund to mobilise savings for national development. The Bank commenced its operations through the Post Office infrastructure network. In 1965 the Post Office Savings Bank Act [Chapter 249] was promulgated providing for the administration of the Savings Bank by the Posts and Telecommunications Corporation (PTC) on an agency basis. On April 1, 2001 a new act, The People’s Own Savings Bank of Zimbabwe Act [Chapter 24:22] was promulgated establishing the bank as a corporate body to carry-on the business of a Savings Bank. Our Vision “To be a world class Savings Bank catering for all” A key focus over the next five years that will be pursued by POSB in the realization of its vision is “ To be a well capitalised, profitable and financially inclusive savings bank serving at least 10% of the population by 2018.” Our Mission “A savings bank which mobilizes deposits and provides a broad range of appropriate, quality, accessible and affordable financial services.” Our Mandate The Bank derives its mandate from the People’s Own Savings Bank Act [Chapter 24:22] of 1999. The Bank’s main functions are to;  Accept deposits that are repayable with interest.  Provide banking and financial services for the people of Zimbabwe.  Encourage saving by the people of Zimbabwe.  Grant loans and advances to the people of Zimbabwe. Core Values  Integrity - Being trustworthy, accountable, dependable and honest in all our dealings.  Innovation - Ability to change for the better, generate new ideas and improve the way we serve the customer.  Commitment - Ability to engage oneself responsibly and exceed set standards and expectations.  Responsiveness – Ability to timeously and proactively attend to customer and other stakeholder needs.