AB Bank Zambia is a commercial bank in Zambia, licensed by the Bank of Zambia and by the national banking regulator.[1] It is a member of AccessHolding, a banking group which operates a network of commercial banks and microfinance institutions in developing and transition countries with a target group focus on micro, small and medium-sized enterprises.[2]
 | |
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2011 |
| Headquarters | Lusaka, Zambia |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Total assets | US$14.6 million (2014) |
Main Location
editThe headquarters of AB Bank Zambia are located on Chainda Place, in Lusaka, the capital and largest city in the country. The coordinates of the bank's headquarters are: 15°25'23.0"S, 28°17'01.0"E (Latitude:-15.423053; Longitude:28.283612).[3]
Overview
editThe bank began operations on 18 October 2011, following the issuance of a commercial banking license by the Bank of Zambia. The bank's shareholders are five international development institutions. The target clientele of the bank are Zambian micro, small and medium-sized businesses, who have been left out of the formal economy by the traditional commercial banks. The bank also targets low income earners in the country.[4] The bank maintains a facility for small-scale farmers.[5]
Shareholding
editThe shareholding in the stock of the bank, is as illustrated in the table below:[6]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | AccessBank Group | 51.0 |
| 2 | FMO | 12.5 |
| 3 | IFC[7] | 12.5 |
| 4 | Incofin[8] | 12.5 |
| 5 | KfW | 12.5 |
| Total | 100.00 |
- Note: Incofin is an international development fund that invests in microfinance institutions that serve under-served populations, especially those serving agricultural communities.
Branches
editAs of April 2016, the bank maintains branches at the following locations:[9]
- Cairo Road Branch - Chainda Place, Off Cairo Road, Lusaka Main Branch
- Chilenje Branch - Chilenje Shopping Mall, Muraba Road, Chilenje, Lusaka
- Matero Branch - B & J Building, Commonwealth Road, Matero, Lusaka
- Kalingalinga Branch - Alick Nkhata Road, Kalingalinga
- Chelston Branch - Chelston Bazzar Complex, Chelston
- Garden Branch - Garden Township, Lusaka.[10]
- Kitwe Branch - Kitwe[10]
See also
editReferences
edit- ^ BOZ (15 April 2016). "Bank of Zambia: Registered Commercial Banks". Lusaka: Bank of Zambia (BOZ). Archived from the original on 5 January 2016. Retrieved 15 April 2016.
- ^ AHC (15 April 2015). "Our Network: AccessBank Zambia". Berlin: AccessHolding (AHC). Retrieved 15 April 2016.
- ^ Google (15 April 2016). "Location of the Headquarters of AB Bank Zambia" (Map). Google Maps. Google. Retrieved 15 April 2016.
- ^ Incofin (3 November 2011). "Launch of AB Bank Zambia". Brussels: Incofin. Archived from the original on 5 May 2016. Retrieved 16 April 2016.
- ^ ZDN Reporter (16 November 2015). "AB Bank launches loan scheme for smallholders". Zambia Daily Nation (ZDN). Lusaka. Retrieved 16 April 2016.
- ^ ABBZ (15 April 2016). "AB Bank Zambia: Shareholders". Lusaka: AB Bank Zambia (ABBZ). Archived from the original on 23 March 2016. Retrieved 15 April 2016.
- ^ IFC (5 January 2011). "AB Bank Zambia Limited: Summary of Proposed Investment". Washington, DC: International Finance Corporation (IFC). Retrieved 16 April 2016.
- ^ "About Incofin IM | Incofin". Archived from the original on 2016-05-05. Retrieved 2016-04-16.
- ^ ABBZ (15 April 2016). "AB Bank Zambia: Branch Network". Lusaka: AB Bank Zambia (ABBZ). Archived from the original on 25 January 2016. Retrieved 15 April 2016.
- ^ a b Siame, Nancy (4 November 2015). "AB Bank boosts deposits". Lusaka: Zambia Daily Mail. Retrieved 16 April 2016.