| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1969 |
| Headquarters | Lusaka, Zambia |
| Key people | Arnold J.A.M Kujipers, Chairman Martyn Schouten, Managing Director |
| Products | Loans, Checking, Savings, Investments, Debit Cards |
| Revenue | Aftertax: US$16.5 million (2009) |
| Total assets | US$ 633+ million (2009)[1] |
| Employees | 900+ (2009) |
| Website | Homepage |
Zambia National Commercial Bank, commonly referred to by the name "Zanaco", is a commercial bank in Zambia.
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Zanaco is a large financial services provider in Zambia. As of December 2009[update], the bank's total assets exceeded US$633 million, with shareholders' equity of approximately US$82 millions, according to the bank's 2009 audited financial statement.
Zanaco was founded in 1969 by the Government of Zambia.[2] Prior to 2007, the bank was 100% owned by the government. In that year, 49% of its shares were sold to the Rabobank Group, a banking company from the Netherlands. In 2008, the shares of Zanaco were listed on the Lusaka Stock Exchange. The current shareholding in the bank is detailed in the section below. According to the Bank of Zambia, Zanaco was the most profitable commercial bank in Zambia during the first six (6) months of 2009.[3]
As of October 2009, the bank's stock is owned by the following corporate entities and individuals: [4]
| Zanaco Stock Ownership | ||||||||||||
Branch NetworkZanaco's main branch is located at the bank's headquarters in Lusaka, Zambia's capital and largest city. As of February 2011[update], the bank has fifty-seven (57) fully functional branches, spread across the entire country.[6] In addition, Zanaco has partnered with the Zambian Post-office known as Zampost to allow Zanaco customers to deposit and withdraw funds from their accounts at Zampost outlets which total about one hundred (100), distributed all over Zambia, in both rural and urban locales. Community serviceZanaco is the sponsor of Zanaco FC, a football club based in Lusaka, the capital city of Zambia. See alsoExternal links
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