Access Bank Zambia

Access Bank Zambia, whose full name is Access Bank Zambia Limited, is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.[1]

Access Bank Zambia
TypeSubsidiary of Access Bank Group
IndustryFinancial Services
FoundedSeptember 24, 2008 (2008-09-24)
HeadquartersLusaka, Zambia
Key people
Caleb Amos Mulenga
Chairman
Joana Bannerman
Managing Director and CEO
ProductsLoans, Checking, Savings, Investments, Debit Cards
Revenue ZMW:24,636,000 (US$1.263 million) (Q1:2020)
Total assetsZMW:1,569,171,000 (US$80.64 million) (Q1:2020)
WebsiteHomepage

Location

The headquarters and main branch of Access Bank Zambia are located at 632 Cairo Road, in the city Lusaka, the capital city of Zambia.[2] The geographical coordinates of the headquarters of Access Bank Zambia are: 15°24'43.0"S, 28°16'49.0"E (Latitude:-15.411944; Longitude:28.280278).[3]

Overview

The bank is a medium-sized retail bank, serving the needs of Zambian companies, small and medium sized enterprises and individuals. As of March 2020 Access Bank Zambia had assets valued at ZMW:1,569,171,000 (approximately US$80.64 million), with shareholders equity of ZMW:269.36 million (US$13.81 million).[4]

The bank, which was established on the 24th of September 2008, is a subsidiary of Access Bank Group, an international bank that maintains headquarters in Nigeria and has subsidiaries in eight countries in Africa one country in Western Europe.[5]

Access Bank Group

By virtue of its shareholding, Access Bank Zambia is a member of the Access Bank Group, a financial services conglomerate, whose shares are listed on the Nigerian Stock Exchange and whose total asset valuation exceeded US$18.82 billion (NGN:7.28 trillion), as of June 2020.[6]

The group has banking subsidiaries in Democratic Republic of the Congo, Gambia, Ghana, Kenya, Nigeria, Rwanda, Sierra Leone and the United Kingdom. The group maintains representative offices in Lebanon, United Arab Emirates, India and China.[7][8]

Branches

The branches of Access Bank Zambia include the following:[2]

  1. Cairo Road Branch: 632 Cairo Road, Lusaka
  2. Longacres Branch: 2166 Haile Selassie Avenue, Longacres, Lusaka
  3. Acacia Park Branch: Acacia Park, 22768 Thabo Mbeki Road, Lusaka
  4. Makeni Mall: Shop 50, Makeni Mall, 38388 Kafue Road, Lusaka
  5. Ndola Branch: 3055 Mpelembe House, Ndola
  6. Kitwe Branch: 493/494 Union House, Kitwe.

Acquisition of Cavmont Bank

In August 2020 Access Bank Zambia entered into a binding commitment to acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank, another Zambian commercial bank. The transaction, which requires regulatory and shareholder approval, is expected to close in Q4 of 2020.[9][10]

See also

References
  1. Bank of Zambia (1 September 2020). "List of Licensed Commercial Banks in Zambia". Lusaka: Bank of Zambia. Retrieved 1 September 2020.
  2. Access Bank Zambia (30 April 2018). "The Branch Network of Access Bank Zambia Limited" (Archived from the original on 30 April 2018). Lusaka: Access Bank Zambia. Retrieved 1 September 2020.
  3. Google (1 September 2020). "Location of the Headquarters of Access Bank Zambia, Lusaka, Zambia" (Map). Google Maps. Google. Retrieved 1 September 2020.
  4. Access Bank Zambia (31 March 2020). "Financial Statements for the Three Months Ended 31 March 2020" (PDF). Lusaka: Access Bank Zambia. Retrieved 1 September 2020.
  5. Access Bank Zambia (30 April 2018). "About Us: Our History" (Archived from the original on 30 April 2018). Lusaka: Access Bank Zambia. Retrieved 1 September 2020.
  6. Goddy Egene (13 May 2020). "Access Bank: Delivering Shareholders' Value". This Day Live. Lagos. Retrieved 1 September 2020.
  7. James Anyanzwa (3 November 2019). "Nigeria's biggest lender enters EA market to grow African footprint". The EastAfrican. Nairobi. Retrieved 1 September 2020.
  8. Faith Ikade (3 June 2020). "Access Bank Becomes Major Shareholder In Its Rwanda Subsidiary". Lagos: Ventures Africa. Retrieved 1 September 2020.
  9. Nyasha Nyaungwa (6 August 2020). Tim Cocks and Alexander Smith (ed.). "Nigeria's Access Bank buys loss-making Zambian Cavmont". Reuters.com. Retrieved 1 September 2020.
  10. Lusaka Times (7 August 2020). "Access Bank acquires Cavmont Bank Ltd". Lusaka Times. Retrieved 1 September 2020.
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