Indo-Zambia Bank Limited
|Products||Loans, credit cards, savings, investments, mortgages|
|Revenue||Aftertax:US$7.17 million (ZMK:37.2 billion) (2011)|
|Total assets||US$308.6 million (ZMK:1.6 trillion) (Q1:2012)|
Number of employees
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.
IZB is a medium-sized financial services provider in Zambia, providing retail banking services to the communities it serves. As of March 2012[update], 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).
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.
|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|
The bank maintains its headquarters in Lusaka, the capital and largest city in Zambia. As of September 2009[update], it had a network of sixteen branches in various parts of the country. Between 2009 and 2012, it opened six new branches, to bring the total branch network to twenty.
- List of banks in Zambia
- Bank of Zambia
- Economy of Zambia
- Bank of Baroda
- Bank of India
- Central Bank of India
- Aftertax Profit For Financial Year 2011
- Total Assets As of 31 March 2012
- "Bank of Zambia". www.boz.zm. Retrieved 2017-08-16.
- List of Commercial Banks In Zambia
- "Times of Zambia | ‘Restructure tertiary training curricular’". www.times.co.zm. Retrieved 2017-08-16.
- Indo-Zambia Bank Makes Regular Charitable Donations
- "Zambia: INDO Bank to Spend K351 Miliion On Community Events". The Times of Zambia (Ndola). 2012-05-29. Retrieved 2017-08-16.
- Mwale, Sylvester (2009-04-30). "Zambia: Indo-Zambia Bank Soldiers On Amid Economic Downturn". The Times of Zambia (Ndola). Retrieved 2017-08-16.
- Indo-Zambia Bank Maintains Fourteen Branches As of September 2009
- "Zambia: Indo-Zambia Posts Growth". The Times of Zambia (Ndola). 2012-05-23. Retrieved 2017-08-16.
- Mrs. Orlean Moyo Is Chairperson of Indo-Zambia Bank
- Mahesh Bansal Is Managing Director of Indo-Zambia Bank