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AB Bank Zambia

Coordinates: 15°25′23″S 28°17′01″E / 15.42306°S 28.28361°E / -15.42306; 28.28361
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AB Bank Zambia
Company typePrivate
IndustryFinancial services
Founded2011
HeadquartersLusaka, Zambia
ProductsLoans, Checking, Savings, Investments, Debit Cards
Total assetsUS$14.6 million (2014)

AB Bank Zambia is a commercial bank in Zambia, licensed by the Bank of Zambia and by the national banking regulator.[1] It is a member of AccessHolding, a banking group which operates a network of commercial banks and microfinance institutions in developing and transition countries with a target group focus on micro, small and medium-sized enterprises.[2]

Main Location

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The headquarters of AB Bank Zambia are located on Chainda Place, in Lusaka, the capital and largest city in the country. The coordinates of the bank's headquarters are: 15°25'23.0"S, 28°17'01.0"E (Latitude:-15.423053; Longitude:28.283612).[3]

Overview

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The bank began operations on 18 October 2011, following the issuance of a commercial banking license by the Bank of Zambia. The bank's shareholders are five international development institutions. The target clientele of the bank are Zambian micro, small and medium-sized businesses, who have been left out of the formal economy by the traditional commercial banks. The bank also targets low income earners in the country.[4] The bank maintains a facility for small-scale farmers.[5]

Shareholding

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The shareholding in the stock of the bank, is as illustrated in the table below:[6]

AB Bank Zambia Stock Ownership
Rank Name of Owner Percentage Ownership
1 AccessBank Group 51.0
2 FMO 12.5
3 IFC[7] 12.5
4 Incofin[8] 12.5
5 KfW 12.5
Total 100.00
  • Note: Incofin is an international development fund that invests in microfinance institutions that serve under-served populations, especially those serving agricultural communities.

Branches

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As of April 2016, the bank maintains branches at the following locations:[9]

  1. Cairo Road Branch - Chainda Place, Off Cairo Road, Lusaka Main Branch
  2. Chilenje Branch - Chilenje Shopping Mall, Muraba Road, Chilenje, Lusaka
  3. Matero Branch - B & J Building, Commonwealth Road, Matero, Lusaka
  4. Kalingalinga Branch - Alick Nkhata Road, Kalingalinga
  5. Chelston Branch - Chelston Bazzar Complex, Chelston
  6. Garden Branch - Garden Township, Lusaka.[10]
  7. Kitwe Branch - Kitwe[10]

See also

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References

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  1. ^ BOZ (15 April 2016). "Bank of Zambia: Registered Commercial Banks". Lusaka: Bank of Zambia (BOZ). Archived from the original on 5 January 2016. Retrieved 15 April 2016.
  2. ^ AHC (15 April 2015). "Our Network: AccessBank Zambia". Berlin: AccessHolding (AHC). Retrieved 15 April 2016.
  3. ^ "Location of the Headquarters of AB Bank Zambia" (Map). Google Maps. Retrieved 15 April 2016.
  4. ^ Incofin (3 November 2011). "Launch of AB Bank Zambia". Brussels: Incofin. Archived from the original on 5 May 2016. Retrieved 16 April 2016.
  5. ^ ZDN Reporter (16 November 2015). "AB Bank launches loan scheme for smallholders". Zambia Daily Nation (ZDN). Lusaka. Retrieved 16 April 2016.
  6. ^ ABBZ (15 April 2016). "AB Bank Zambia: Shareholders". Lusaka: AB Bank Zambia (ABBZ). Archived from the original on 23 March 2016. Retrieved 15 April 2016.
  7. ^ IFC (5 January 2011). "AB Bank Zambia Limited: Summary of Proposed Investment". Washington, DC: International Finance Corporation (IFC). Retrieved 16 April 2016.
  8. ^ "About Incofin IM | Incofin". Archived from the original on 2016-05-05. Retrieved 2016-04-16.
  9. ^ ABBZ (15 April 2016). "AB Bank Zambia: Branch Network". Lusaka: AB Bank Zambia (ABBZ). Archived from the original on 25 January 2016. Retrieved 15 April 2016.
  10. ^ a b Siame, Nancy (4 November 2015). "AB Bank boosts deposits". Lusaka: Zambia Daily Mail. Retrieved 16 April 2016.

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15°25′23″S 28°17′01″E / 15.42306°S 28.28361°E / -15.42306; 28.28361