[2] As at that time, the bank had over 500,000 savings accounts, maintained 34 brick and mortar branches,[3] operated 220 agency branches through Zimpost, and another 18 agency branches through Meikles Supermarkets.

That same month POSB started offering mortgages at 12 percent annual interest, with maximum terms of 10 years.

[4][5] POSB was formed in 1904, as the Post Office Saving Bank.

In 1999 the People’s Own Savings Bank Act was established as a corporate body in accordance with the People’s Own Savings Bank of Zimbabwe Act.

In 2001, the Zimbabwe Posts & Telecommunications Corporation (PTC) was split into four independent entities: (a) Net-One, an Internet service provider, (b) Tel-One, a voice communication service provider (land-line and cellular) (c) Zimpost, a postal letter carrier and (d) POSB, a savings bank.