List of banks in Zambia

This is a list of banks in Zambia.

Financial market in general

Zambia is considered from the financial volume, dominated by four foreign banks, which have a sparse but nationwide branch network. The financial sector itself is small. The ratio of M2 to GDP is 10 percent, the bank deposits to GDP 22 percent, with government deposits make up the largest part. Investment loans are very short term, given the high rates of inflation and are therefore constantly being renegotiated.

Central bank

Handelsbanken

  • Bank of China (Zambia ), Lusaka ( foreign bank )
  • Barclays Bank of Zambia, Lusaka ( foreign bank )
  • Cavmont Capital Bank, Lusaka ( Development Bank)
  • Citibank Zambia, Lusaka ( foreign bank )
  • Development Bank of Zambia, Lusaka ( Development Bank)
  • Finance Bank Zambia, Lusaka
  • First Alliance Bank, Lusaka
  • Indo- Zambia Bank, Lusaka ( Zambia - India joint venture )
  • International Bank for Reconstruction and Development, Lusaka ( Development Bank)
  • Lima Bank, Lusaka ( Development Bank)
  • Stanbic Bank Zambia, Lusaka ( foreign bank )
  • Standard Chartered Bank (Zambia ), Lusaka ( foreign bank )
  • Zambia Export and Import Bank, Lusaka
  • Zambia National Commercial Bank, Lusaka

Another private financial sector

  • Two real estate funds
  • Seven insurance
  • Nine pension funds

Banking system in Zambia generally

The state banking system was subsidized. When the Zambian government withdrew this support in 1993, followed almost immediately by a banking crisis. 1995 following banks were closed due to insufficient funding, so as not to undermine confidence in the Zambian banking system continues:

  • Prudence Bank, Lusaka (in liquidation 1994)
  • Meridien Bank Limited, Lusaka (in liquidation 1995)
  • African Commercial Bank Limited, Lusaka (in liquidation 1995)
  • Commerce Bank Limited, Lusaka (in liquidation 1995)

As a result, the Capital Adequacy Regulation was adopted in 1996, which prescribes a minimum capital of 2 billion kwacha for all banks. In general, the Zambian banking system is based on the Banking and Financial Services Act 1994.

Thus, the crisis was not overcome. This was followed by:

  • Chase Trust Bank, Lusaka (in liquidation 1997)
  • Prudence Bank, Lusaka (in liquidation 1997)
  • Manifold Investment Bank, Lusaka (in liquidation 1997)
  • First Merchant Bank, Lusaka (in liquidation 1998)
  • Union Bank, Lusaka (in liquidation 2005)

So far, the Zambian banking system was almost entirely limited to the financing of industrial projects. The area of consumer credit was given to the families and the loan sharks. This has changed since 2000. Above all church-related organizations such as the Ecumenical Development Cooperative Oikocredit and projects like that of Muhammad Yunus with the Grameen Bank in Bangladesh led the development assistance organizations, the enormous power of microcredit for a country's development in mind. This means that the Zambian banking system moves first in width, because the monetary envisioning an African smallholders comprises a tin roof, a bicycle, fertilizer, seed. There is exhausted with U.S. $ 1,000 a year. Further, the need for scale ranges rare. In addition, it carries the African customs invoice that everyone who is in debt, may ask the family for money, who has money, but has to put this in the family. Microcredit is therefore the ideal starting point to promote investment and further to accumulate capital for them. You must only be provided at interest rates that have no debt bondage result. But seems with the Lima Bank and the Cavmont Capital Bank in particular and the changed lending not only of Finance Bank Zambia and the National Savings and Credit Bank of Zambia in general, at least one approach to have been found. How far the bears will only be seen in ten years.

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