Zambia National Commercial Bank or
Zanaco, as is popularly known, is the most popular bank in Zambia. It has 41 branches that are providing services across Zambia. People from countryside in Zambia rely heavily on
Zambia National Commercial Bank for their financial activities.
The reason behind Zambia National Commercial Bank's immense popularity has been attributed to its growing accessibility among the masses in Zambia. Poor villagers across Zambia are seemed to the biggest beneficiaries.
Zambia National Commercial Bank services cater to all sections of people. People ranging from marginal farmers, share croppers to business men, small depositors and public servants all derive benefits from its services.
As Zambia is one of the poorest countries in Africa, the government in power had recently decided to introduce privatization in commercial sector to rejuvenate the economy there. Accordingly, Zambia
National Commercial Bank – the
people's Bank as it is fondly called, was privatized recently.
According to the minute signed,
Rabobank of Netherlands will have a stake of 49% in
Zambia National Commercial Bank while ZNCB will keep 25% share with it.
The key services that
Zambia National Commercial Bank caters to its customers are payment services, E-banking services,credit facilities, bill muster facilities ands scheme loans.
Credit facilities: Issuing loans are what one of the key
credit facilities that
Zambia National Commercial Bank renders to its customers. Loans include SEBA loans, Enterprise development fund (EDF), Bank loans and above all personal loans.
Bank loans: Zambia National Commercial Bank provides
bank loans on a short term basis. The loans are issued either for 12 months or for a five years term. Scheme loans are something that
Zambia National Commercial bank has recently introduced. Under this scheme, employees from the corporate and the business world will be benefited immensely.
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