TIME Bank of Zimbabwe Limited says it has up to December 31, 2024 to shore up its capital base to US$30 million in line with tier one bank minimum requirements after getting a reprieve from the regulator.
Time Bank which was closed in 2004 after cancellation of its license by the RBZ resulting in a protracted legal battle re-opened in 2022 after a successful settlement with the Reserve Bank of Zimbabwe.
The commercial bank has only been focusing on investment banking activities and is not taking deposits.