Indo-Zambia Bank Limited

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"IZB" redirects here. For the Institut für Zellbiologie in Bern, see Institute of Cell Biology, University of Bern.
Indo-Zambia Bank
Type Private
Industry Banking
Founded 1984
Headquarters Lusaka, Zambia
Key people Orlean Moyo
Chairperson
Shankardas Gupta
Managing Director
Products Loans, credit cards, savings, investments, mortgages
Revenue IncreaseAftertax:US$7.17 million (ZMK:37.2 billion) (2011)[1]
Total assets US$308.6 million (ZMK:1.6 trillion) (Q1:2012)[2]
Employees 260+ (2009)

Indo-Zambia Bank (IZB), whose full name is Indo-Zambia Bank Limited, is a commercial bank in Zambia. It is one of the commercial banks licensed by Bank of Zambia, the national banking regulator.[3][4]

Overview[edit]

IZB is a medium-sized financial services provider in Zambia, providing retail banking services to the communities it serves. As of March 2012, the bank controlled total assets of nearly US$309 million (ZMK:1.6 trillion). At that time, the shareholders' equity in the bank was valued at approximately US$45.4 million (ZMK:235.4 billion).[5]

History[edit]

The bank was founded in 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. Indo-Zambia Bank is a significant employer in the communities that it serves and is an active participant in CSR activities in Zambia.[6][7]

Ownership[edit]

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[edit]

The bank maintains its headquarters in Lusaka, the capital and largest city in Zambia. As of September 2009, it had a network of sixteen branches in various parts of the country.[9] Between 2009 and 2012, it opened six new branches, to bring the total branch network to twenty.[10]

Governance[edit]

Mrs. Orlean Moyo, a Zambian, is the Chairperson of the Board of Directors.[11] Shankardas Gupta, a national of India, serves as the Managing Director.[12]

External links[edit]

See also[edit]

References[edit]