Establishment Established in 1980 as the Bank of Credit and Commerce Zimbabwe Limited (BCCZ) that was a joint venture between the Government of Zimbabwe and the Bank of Credit and Commerce International Holdings Limited (BCCIH). Turnaround In 1991, the government of Zimbabwe saved the BCCZ from collapse by acquiring total shareholding in the Bank. BCCZ acquired a new identity as Commercial Bank of Zimbabwe (CBZ). The Bank's new identity was augmented by the appointment of a new team of management whose mandate was to steer CBZ to growth and success. The first major turnaround occurred in May 1995 when a decision was taken to remove non performing loans from the normal portfolio of advances. These were placed under the separate entity, Commercial Bank of Zimbabwe Nominees Limited (CBZN). This strategy allowed the more efficient mobilisation of financial resources and enabled greater focus on critical issues of banking business and rehabilitation of all delinquent advances.