AB Bank Zambia
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 | |
Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2011 |
| Headquarters | Lusaka, Zambia |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Total assets | US$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]
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
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
The shareholding in the stock of the bank, is as illustrated in the table below:[6]
| 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.