Personal banking businesses in Zambia

Personal Banking refers to all the services like savings account operations, current account operations, and provision of personal loans. These services are offered to individuals or directly to consumers through commercial banks. Personal banking is also known as retail banking. Banks aim to satisfy the needs of a customer. All banks now offer debit cards that give you access to your cash in a safe and convenient way to conduct your day to day banking through and a wide ATM network. You can find affordable, personal loans, savings and current accounts and with online banking, you can stay updated even on your mobile.

A personal bank account is not for business use, but rather for an individual to keep and manage their own personal funds and other assets. This would be your personal banking account rather than a shared corporate account or a joint account.

The commercial banking sector in Zambia comprises 19 international and local banks. Zambia Banking Industry Survey, domestic banks in Zambia expressed reduced optimism in the short to medium term, due to concerns about the stability of monetary policy, expectations of GDP growth, fiscal discipline.

Absa

Barclays Zambia started its operations as one of the banks in Zambia in 1918. The bank is a member of Absa Group, formerly Barclays Africa Group. It currently employs around 588 staff and maintains 70 offices, which consist of full branches and sales centres located across the country.

Zambia National Commercial Bank (Zanaco)

In terms of assets, Zambia National Commercial Bank (Zanaco) is the largest financial services provider in Zambia. Founded in 1969, the bank serves more than one million customers in the personal, government, corporate, SME, and agriculture sectors.

Standard Chartered Bank Zambia

Standard Chartered Bank Zambia opened its first branch in Zambia in 1906. The bank offers a wide range of banking products and services to upscale retail customers, SMEs, and large corporate clients in the country.

Stanbic Bank (Zambia)

Founded in 1956, Stanbic Bank (Zambia) is a member of the Standard Bank Group, which is present in 20 African countries. The bank offers a comprehensive range of consumer, corporate, business, and investment banking services in the country.

Cavmont Bank Limited (CBL)

Cavmont Bank (CBL) was the product of the merger between New Capital Bank and Cavmont Merchant Bank in 2004. CBL is fully owned by financial services provider Cavmont Capital Holdings Zambia.

Ecobank Zambia

Ecobank Zambia, or Ecobank Transnational Inc., commenced banking operations in the country in 2009. The bank offers financial solutions to individual customers, businesses, and governments.

Incorporated in 1984 as one of the banks in Zambia,

Indo Zambia Bank

Indo Zambia Bank provides retail and corporate banking products and services across the country. The bank is a joint venture between the Government of India and the Government of the Republic of Zambia.

Investrust Bank

Investrust obtained its banking license and commenced banking operations in Zambia in 1996. Formerly known as Investrust Merchant Bank Zambia Limited, the bank adopted its current name in 2002.

First Alliance Bank

Founded in 1994, First Alliance Bank is a locally owned, registered commercial bank in Zambia. The bank offers diversified financial solutions to individual and corporate banking clients in the country.