Intermarket Bank

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Intermarket Bank
Type Private
Industry Financial Services
Headquarters Lusaka, Zambia
Key people Joseph Toubi
Chairman
Robert Nkous
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards
Website Homepage

Intermarket Bank is a commercial bank in Zambia. The bank is one of the commercial banks licensed by the Bank of Zambia, the national banking regulator.[1]

History[edit]

In March 2010, at the direction of the Bank of Zambia, Afriland First Bank Group, based in Yaoundé, Cameroon, acquired 80% shareholding in Intermarket Bank, for an undisclosed sum of money. Sabre Capital, the former majority shareholders in Intermarket Bank retained 20% ownership. Afriland also took 80% shareholding in Intermarket Securities, which is 100% owned by Intermarket Bank. The new majority owners will keep the Intermarket brand until 2013 when they will switch to the Afriland brand.[2]

Ownership[edit]

As of March 2010, the bank's stock was owned by the following corporate entities: [3]

Intermarket Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Afriland First Bank of Cameroon 80.00
2 Sabre Capital Worldwide Inc. of United Kingdom 20.00[4][5]
Total 100.00

Branch network[edit]

The bank maintains headquarters in Lusaka, Zambia's capital and largest city. The bank has the following branches:

  1. Lusaka Main Branch - Lusaka
  2. Manda Hill Branch - Manda Hill Shopping Mall, Lusaka
  3. New Soweto Branch - New Soweto, Lusaka
  4. NIPA Agency Branch - Lusaka
  5. Kamwala Branch - Kamwala
  6. Chawama Branch - Chawama
  7. Kitwe Branch - Kitwe

Governance[edit]

Joseph Toubi serves as Afriland First Bank Group's Executive Vice President since 2008. He has been in the banking sector since 1989. After implementing the Organization Department and the Department in charge of Overheads management in Société Générale de Banques au Cameroun, Joseph Toubi joined Afriland First Bank Cameroon as an Internal Auditor in 1997. He was Advisor to the Chairman of Afriland First Group for 9 years before becoming the Group Executive Vice President in charge of Business Development and International Relations. He is also the Chairman of the Board of Afriland First Bank in the Democratic Republic of Congo and Chairman of the Board of Intermarket Banking Corporation. He was part of the team of four experts set up by the Cameroonian Government to implement the Douala Stock Exchange in 2002. Robert Nkous serves as the Managing Director of Intermarket Banking Corporation, since January 2012.[6]

See also[edit]

External links[edit]

References[edit]