The Central Bank of Zambia was established in 1964 to take over the functions of the Bank of Northern Rhodesia. The Bank of Zambia is the central monetary authority of Zambia. The Central Bank supervises Zambia’s banks and formulates and implements the country’s monetary policy.
The latest data from the Bank of Zambia (BOZ) shows that there are currently 19 wholly-owned commercial banks in Zambia. As of the end of 2012, non-bank financial institutions include 8 leasing companies, 4 construction associations, 1 development bank, 1 savings and credit bank, 1 development financial institution, 57 exchange offices, 1 credit advisory bureau and 35 A microfinance institution. As of the end of 2011, the nominal assets of banks were 27.8 trillion Zambian Kwachas (30% of GDP), which was about three times higher than the 10.7 trillion Zambian Kwachas held in 2006 (27.7% of GDP). In this post, you will get all links and information about Banks in Zambia.
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The Bank of Zambia (BOZ)
Established in 1938
Ownership 100% state ownership
Governor Dr. Christopher Mvunga
Central bank of Zambia
Currency Zambian kwacha
Reserves 2 530 million USD
List of all Banks in Zambia
There are 19 international and local banks in Zambia. Concerned about the stability of monetary policy, expectations of GDP growth, fiscal discipline, and uncertainty regarding the IMF’s economic plan, Zambia’s domestic banks have expressed reduced optimism in the short to medium term. Here you will get a complete list of Banks in Zambia.
- Absa Bank Zambia Plc
- Access Bank Zambia Limited
- African Banking Corporation
- Atlas Mara Bank Zambia Limited
- Bank of China Zambia Limited
- Barclays Bank Zambia Limited
- Cavmont Bank Limited
- Citibank Zambia Limited
- Ecobank Zambia Limited
- First Alliance Bank Zambia Limited
- First Capital Bank Zambia Limited
- First National Bank of Zambia Limited
- Indo-Zambia Bank Limited
- Investrust Bank Zambia Limited
- Stanbic Bank Zambia Limited
- Standard Chartered Bank Zambia Plc
- United Bank for Africa Zambia Limited
- Zambia Industrial Commercial Bank Limited
- Zambia National Commercial Bank Plc
For those who consider a career in the banking sector in Zambia, this is the top list of banks in Zambia is very helpful on where to start. To get more information, please refer to our list of financial institutions in Zambia.
Standard Chartered Bank Zambia In 1906, Standard Chartered Bank Zambia has started its operation through the first branch. The bank has more than 700 employees and operates a network of 25 branches with 50 ATMs in 10 Zambian cities. The bank offers small and medium enterprises, large corporate customers and banking products and services.
Stanbic Bank (Zambia) Stanbic Bank (Zambia) is a member of the Standard Bank Group which was established in 1956 and its headquarter is located in Lusaka. The bank operates in 20 African countries. In Zambia, the bank currently controls 13 branches. The bank provides a wide range of consumer, commercial, corporate and investment banking services in the country.
Zambia National Commercial Bank (Zanaco) In terms of assets, Zambia’s biggest financial service provider is the National Commercial Bank of Zambia (Zanaco). The bank was established in 1969 and it is a domestic bank though it has mixed ownership. This bank serves more than 1 million customers in the government, corporate, individual and agricultural sectors. There are approximately 1230 employees serve as the largest employer among all banks in Zambia.
Cavmont Bank Limited (CBL) Cavmont Bank headquarters is located in Lusaka and presently the bank has 250 employees and monitors 19 branches in Zambia. Cavmont Bank serves more than 50 thousand customers all over the country providing community banking, retail banking, investment services, and corporate banking services and products.
Ecobank Zambia Zambia’s Ecobank began banking in the country in 2009. It is a subsidiary of Ecobank Group which is a leading Pan-African banking group. Throughout the country, the bank has 36 branches in Africa and 4 branches outside the region.
First Alliance Bank First Union Bank is a locally registered commercial bank in Zambia which was founded in 1994. The bank presently has approximately 110 employees and has 3 branches in Lusaka and 1 branch in Kitwe and Ndola.
Investrust Bank The bank obtained a banking license in 1996 and the started banking business in Zambia. Currently, they have a network of 30 branches in major cities across the country.
These are the best and selected banks in Zambia. You can visit the site to gather more information. All links and official information are included herewith.