Stanbic Bank Zimbabwe is a member of the Standard Bank Group which is headquartered in Johannesburg, South Africa. Standard Bank Group started operating in Port Elizabeth, South Africa, in 1857. Standard Bank opened its first bank in Salisbury, Rhodesia on 20 July 1892. This was the start of their branch extension outside South Africa. In 1941 ANZ Grindlays Bank, which originated in London, opened its first branch in the then Rhodesia. ANZ Bank had operations in the now Zimbabwe, Zambia, Kenya, Botswana, Uganda and DRC (then Zaire), with minority interests in Nigeria and Ghana.
In 1992, Standard Bank acquired the operations of ANZ Grindlays Bank in eight African countries, Zimbabwe included. All the acquisitions, except Merchant Bank (Ghana) Limited, were renamed Stanbic Bank in 1992 to differentiate the bank from its former major shareholder and now competitor in Africa, Standard Chartered Bank. The name Stanbic is an acronym derived from Standard Bank Investment Corporation.
This acquisition of the ANZ Grindlays Bank entities gave birth to Stanbic Bank Zimbabwe in November 1992 . Athol Jayes was appointed Chief Executive in 1995 followed by Greg Brackenridge in 1997. In 2002 Pindie Nyandoro was appointed as the first female Chief Executive for Stanbic Bank Zimbabwe. Josh Tapambgwa succeeded her in 2008 until he handed over the baton to Solomon Nyanhongo in January 2021
The bank launched its first ATM at Samora Machel branch in 1994. In the year 2000, Msasa branch was opened followed by Chegutu branch in 2004. The Minerva Private Banking Suite was later opened in 2017 in Harare.