Our History

The People’s Own Savings Bank, formerly the Post Office Savings Bank, was established in December 1904 as a statutory fund to mobilise savings for national development.

From January 1905 until 1965, the Bank conducted its operations through the Post Office infrastructure network.

In 1965, the Post Office Savings Bank Act {Chapter 249} was promulgated thereby providing for the administration of the Savings Bank by the Posts and Telecommunications Corporation (PTC) on an agency basis.

Finally in 2001, the People’s Own Savings Bank of Zimbabwe Act (Chapter 24:22) was promulgated. This Act effectively established POSB as a corporate body, separate from PTC.

About Us

The People’s Own Savings Bank (POSB) is Zimbabwe’s only 100 percent home grown savings bank that has served the nation by providing quality, affordable and accessible banking services for over 115 years.

Vision

To be the leading financial services provider for a transforming Zimbabwe.

Mission

To provide simple, responsive, innovative and inclusive financial solutions through modern technologies and motivated employees.

Values

  • Team work
  • Innovation
  • Responsiveness
  • Integrity

Our Mandate

The Bank derives its mandate from the People’s Own Savings Bank Act [Chapter 24:22] of 1999. The Bank’s core 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.