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 move 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. Diversification CBZ's diversification drive started in 1997 when the Zimbabwean Government sold its shareholding in the Bank in a bid to adequately capitalise it. An agreement was reached with the Amalgamated Banks of South Africa (ABSA) to become the Bank's technical partner. ABSA took up 25% in shareholding. 

Apart from ABSA, the International Finance Corporation, an arm of the Word Bank, acquired a further 15% of equity. Nonetheless, the greater part of CBZ shares (55%) were issued to the public when the Bank fully privatised and was listed on Zimbabwe Stock Exchange on 29 June 1998. 

By then the Bank had become the third largest in Zimbabwe in terms of deposits. It has also diversified its financial services range with the most significant addition being the establishment of the Microfinance Unit to support small to medium sized business enterprises. Growth Through Diversification In 2004 a new vision was adopted. This refocus propelled the establishment of CBZ Holdings (CBZH) as an entity poised to provide all client segments with a one-stop shopping experience for financial services. When CBZ Holdings Limited was operationalised in June 2005, period of intense growth through diversification began. The Bank became a subsidiary of the holding company and was renamed CBZ Bank Limited.