Q FM Africa's Modern Radio
Finance Bank Zambia (FBZ) will contribute ninety million kwacha (K90 million) to the government treasury for year ended 31st December,2014.
And the bank has announced the commencement of the process
of listing its shares on the Lusaka Stock Exchange.
Speaking during a Breakfast Meeting on the quoting of all shares on Luse in Lusaka today, FBZ Chairman Rajan Mahtani says the bank has deposited a base of K2.4 billion and a loan book size of over K1.4 billion as at 31st December 2014.
Mr. Mahtani says the bank which started with one branch and has now grown to 58 outlets represented in all provinces and 122 ATMs.
He adds that by the end of the first quarter of 2015; the bank will have 62 outlets and 172 ATMs.
He says the bank’s quoted status on the Lusaka Stock Exchange is being followed up closely to ensure that the date for the actual listing will not exceed 31st March, 2015.
Mr. Mahtani adds that despite all odds, the bank is confident of listing on the London Stock Exchange very soon.
Speaking at the same event, Securities Exchange Commission (SEC) Chairman Chintu Mulendema says the move taken by Finance Bank Zambia is a positive one in the sense that it will provide an alternative avenue for investment.