First Alliance Bank Zambia Limited

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First Alliance Bank Zambia Limited
Type Private
Industry Banking
Founded 1994
Headquarters Lusaka, Zambia
Key people Sanmukh R. Patel, Chairman
Suresh K. Gupta, Executive Director
Products Loans, credit cards, savings, investments, mortgages
Revenue Increase Pretax: US$4.3 million (2007)[1]
Total assets US$41.5 million (2007)
Website Homepage

First Alliance Bank Zambia Limited (FABZL), also known as First Alliance Bank (Zambia), is a commercial bank in Zambia. It is one of the commercial banks in the country, licensed by Bank of Zambia, the national banking regulator.[2][3] As of September 2008, it was one of the five commercial banks in Zambia that did not charge customers ATM fees.[4]

Overview[edit]

FABZL is a small financial services provider in Zambia, providing retail banking services to the communities it serves. Its niche market is the corporate clients in the mining and manufacturing sectors of the Zambian economy. As of December 2007, the bank controlled total assets of approximately US$42 million, with shareholders' equity of approximately US$12.3 million.[5]

History[edit]

The bank was founded in 1994 by four businessmen, each controlling an equal shareholding position. Starting with one branch in Lusaka, Zambia's capital and largest city, the bank opened branches in other cities and towns in the country, focusing on the copper-belt region of the country.[6]

Ownership[edit]

The stock of First Alliance Bank Zambia Limited is privately held by four individuals. The table below shows the ownership percentage of each shareholder:[7]

First Alliance Bank Zambia Limited Stock Ownership
Rank Name of Owner Percentage Ownership
1 Sanmukh R. Patel 25.0
2 Suresh K. Gupta 25.0
3 Vasant R. Patel 25.0
4 Mahendra R. Patel 25.0
Total 100.00

Branch network[edit]

The bank maintains three branches in the country, at the following locations: [8]

  1. Main Branch - Alliance House, Cairo Road, Lusaka
  2. Ndola Branch - Ndola
  3. Kitwe Branch - Kitwe

Governance[edit]

The Chairman of the Board of Directors is Sanmukh R. Patel. The Executive Director is Suresh Gupta. Both are shareholders in the bank.[9]

See also[edit]

References[edit]

External links[edit]