Indo-Zambia Bank Limited

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Indo–Zambia Bank
TypePrivate
IndustryBanking
Founded19 October 1984; 36 years ago (1984-10-19)
HeadquartersLusaka, Zambia
Key people
Orlean Moyo
Chairperson
Mahesh Bansal
Managing Director
ProductsLoans, credit cards, savings, investments, mortgages
RevenueIncreaseAftertax:ZMW:80.8 million (US$8.25 million) (2015)[1]
Total assetsZMW:2.967 billion (US$303 million) (Q1:2017)[2]
Number of employees
300+ (2014)[3]
Websitewww.izb.co.zm

Indo–Zambia Bank (IZB), whose full name is
Indo–Zambia Bank Limited, is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.[4]

Overview[]

IZB is a medium-sized financial services provider in Zambia, providing retail banking services to the communities it serves. As of March 2017, the bank controlled total assets of ZMW:2.967 billion (US$303 million), with shareholders' equity of ZMW:685.5 million (US$70 million).[2]

History[]

The bank was founded in on 19 October 1984 by the Government of Zambia, and three state owned Indian banks: (a) Bank of Baroda (b) Bank of India and (c) Central Bank of India.[3] Indo-Zambia Bank is a significant employer in the communities that it serves and is an active participant in Corporate Social Responsibility activities in Zambia.[5]

Location[]

The headquarters and main branch of the bank are located at 6907 Cairo Road, in the city of Lusaka, the capital city of Zambia, and its largest metropolitan area.[6] The geographical coordinates of the bank's headquarters are: 15°25'23.0"S, 28°16'59.0"E (Latitude:-15.423056; Longitude:28.283056).[7]

Ownership[]

The stock of Indo-Zambia Bank is held by four investors. The table below shows the ownership percentage of each shareholder:[8]

First Alliance Bank Zambia Limited Stock Ownership
Rank Name of Owner Percentage Ownership
1 Government of Zambia 40.0
2 Bank of Baroda 20.0
3 Bank of India 20.0
4 Central Bank of India 20.0
Total 100.00

Branch network[]

The bank maintains its headquarters in Lusaka, the capital and largest city in Zambia. As of May 2018, it had a network of twenty-eight branches and 4 agencies in various parts of the country.[8]

Governance[]

Mrs. Orlean Moyo, a Zambian, is the Chairperson of the eight-person Board of Directors. Mahesh Bansal, a national of India, serves as the Managing Director.[9]

See also[]

References[]

  1. ^ Indo-Zambia Bank (27 June 2016). "Indo-Zambia Bank: Annual Report for the Year Ended 31 December 2015" (PDF). Lusaka: Indo-Zambia Bank Limited. Retrieved 1 May 2018.
  2. ^ Jump up to: a b Indo-Zambia Bank (31 March 2017). "Quarterly Financial Statement for the Three Months ended 31 March 2017" (PDF). Lusaka: Indo-Zambia Bank Limited. Retrieved 2 May 2018.
  3. ^ Jump up to: a b Diran Chama (29 April 2014). "Indo Zambia Bank Honours Kenneth Kaunda". Times of Zambia. Lusaka. Retrieved 2 May 2018.
  4. ^ Bank of Zambia (2 May 2018). "List of Licensed Commercial Banks in Zambia". Lusaka: Bank of Zambia. Retrieved 2 May 2018.
  5. ^ The Times of Zambia (28 May 2012). "INDO Bank to Spend K351 Million On Community Events". London: UKZambians.co.uk Quoting The Times of Zambia.
  6. ^ Indo-Zambia Bank (2 May 2018). "The Head Office of Indo-Zambia Bank". Lusaka: Indo-Zambia Bank Limited. Retrieved 2 May 2018.
  7. ^ Google (2 May 2018). "Location of the Headquarters of Indo-Zambia Bank, Cairo Road, Lusaka, Zambia" (Map). Google Maps. Google. Retrieved 2 May 2018.
  8. ^ Jump up to: a b Indo-Zambia Bank (2 May 2018). "Indo-Zambia Bank: Brief History". Lusaka: Indo-Zambia Bank Limited. Retrieved 2 May 2018.
  9. ^ Indo-Zambia Bank (2 May 2018). "Indo-Zambia Bank Limited: The Board of Directors". Lusaka: Indo-Zambia Bank Limited. Retrieved 2 May 2018.

External links[]

Coordinates: 15°25′23″S 28°16′59″E / 15.42306°S 28.28306°E / -15.42306; 28.28306

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