Zambia National Commercial Bank

Zambia National Commercial Bank, also Zanaco, is a public company in Zambia.

Zanaco until 2005, a 100 percent state-owned, specifically the Bank of Zambia, the Central Bank, since 2005 to 74.2 percent. 25.8 percent were placed on the Lusaka Stock Exchange stock exchange where they are traded freely. Actually, a further 49 per cent were to be sold to investors, but the negotiations were broken off in late 2005. The privatization of Zanaco was very controversial, as government wages, salaries and pensions will be paid out over it. It was feared that many stores would be closed after privatization, so that the payee would have to travel long distances, which means much more than 100 kilometers in Zambia to travel, to get their money. The unions were strongly opposed and no investor wanted to ensure the branch network. Thus, the privatization plans of the World Bank were initially rejected, what remains is it only the placement on the stock exchange.

Zanaco has a market share of 24 percent and has 52 strategically placed branches and a branch in London. It is the largest bank in Zambia. They decreed the end of 2004 had assets of 314 million U.S. $, of which 285.8 million U.S. $ 167.7 U.S. $ deposits and current assets.