COBANQ LTD
Company number 04995400 · Monitor this company
Executive summary
COBANQ LTD (formerly ZAK MONEY EXCHANGE) is a niche, community-rooted money transfer operator serving the UK-South Asia remittance corridor, but its financial trajectory raises material concerns. Net assets have eroded by 27% over nine years (£451k to £330k), suggesting sustained losses or excessive distributions that undermine long-term viability. The recent rebrand to "COBANQ" signals an awareness of the need to modernise, but with minimal capital investment evident and no digital transformation visible, the company appears increasingly vulnerable to the structural shift from traditional MTOs to digital-first remittance platforms. Without a credible pivot in business model or capital injection, the current trajectory suggests the business will continue to contract within an industry that rewards scale and technology investment.
Shareholders' funds
£330,331
Balance sheet as at 2025-03-31
Overview
- Company type
- Private Limited Company
- Incorporated
- 2003-12-15
- Employees
- 6 (2025 accounts)
- Registered office
- Level39 One Canada Square, Canary Wharf, London, England, E14 5AB
- Postcode
- E14 5AB
- Capital
- 100 GBP
- Accounts category
- Micro
Accounts
- Last made up to
- 2025-03-31
- Next due by
- 2026-12-31
- Financial year end
- 31 March
Confirmation statement
- Last statement dated
- 2026-04-29
- Next due by
- 2027-05-13
Nature of business (SIC)
- 66190 Activities auxiliary to financial intermediation not elsewhere classified
Officers 2 current · 13 resigned
Data protection registration
Registered with the ICO as a data protection fee payer — Z3153690 (Tier 1), registered since 2012.
Information Commissioner's Office register of fee payers, licensed under the Open Government Licence.
Contact details
- Website
- zakmoneyexchange.com
- Phone
- 00000119686, +44 2085148444
Zak Money Safe, Secure & Reliable Money Transfers We offer best exchange rates and lowest transfer charges. To check the […]
Previous company names
| Name | Date changed |
|---|---|
| ZAK MONEY EXCHANGE LIMITED | 2026-01-16 |
Previous registered addresses 1
| Address | Changed on |
|---|---|
| 71 ILFORD LANE, ILFORD, ESSEX, IG1 2LA | 2004-01-05 |
Among its peers
Top 25%
by shareholders' funds, of 100 similar companies in E
Among the biggest employers among its local peers (6 staff).
Among the oldest 25% of its local peers, trading since 2003.
Competitors London
This company ranks 12 among activities auxiliary to financial intermediation not elsewhere classified in London.
The class of 2003
35%
of the 347 companies in this sector incorporated in 2003 are still active today; 64% have since been dissolved.
A fact about the year, not a forecast for this company.
This company's registered activities are in financial services. If it carries on regulated business, it should appear on the FCA's Financial Services Register — the official record of authorised firms.