First Alliance Bank Zambia Limited

First Alliance Bank Zambia Limited
Private
Industry Banking
Founded 1994
Headquarters Lusaka, Zambia
Key people
 Sanmukh R. Patel, Chairman
Suresh K. Gupta, Executive Director
Products Loans, credit cards, savings, investments, mortgages
Revenue Increase Pretax: US$4.3 million (2007)[1]
Total assets US$41.5 million (2007)
Website Homepage

First Alliance Bank Zambia Limited (FABZL), also known as First Alliance Bank (Zambia), is a commercial bank in Zambia. It is one of the commercial banks in the country, licensed by Bank of Zambia, the national banking regulator.[2][3] As of September 2008, it was one of the five commercial banks in Zambia that did not charge customers ATM fees.[4]

Overview

FABZL is a small financial services provider in Zambia, providing retail banking services to the communities it serves. Its niche market is the corporate clients in the mining and manufacturing sectors of the Zambian economy. As of December 2007, the bank controlled total assets of approximately US$42 million, with shareholders' equity of approximately US$12.3 million.[5]

History

The bank was founded in 1994 by four businessmen, each controlling an equal shareholding position. Starting with one branch in Lusaka, Zambia's capital and largest city, the bank opened branches in other cities and towns in the country, focusing on the copper-belt region of the country.[6]

Ownership

The stock of First Alliance Bank Zambia Limited is privately held by four individuals. The table below shows the ownership percentage of each shareholder:[7]

First Alliance Bank Zambia Limited Stock Ownership
Rank Name of OwnerPercentage Ownership
1Sanmukh R. Patel25.0
2Suresh K. Gupta25.0
3Vasant R. Patel25.0
4Mahendra R. Patel25.0
Total100.00

Branch network

The bank maintains five branches in the country, at the following locations: [8]

  1. Main Branch - Alliance House, Cairo Road, Lusaka
  2. Industrial Branch - Lusaka
  3. Ndola Branch - Ndola
  4. Kitwe Branch - Kitwe
  5. East Park Branch- [ [Lusaka]]

Governance

The Chairman of the Board of Directors is Sanmukh R. Patel. The Managing Director is Cyril Patro. The chairman is a shareholder in the bank.[9]

See also

References

  1. ↑ December 2007 Pretax Profit
  2. ↑ List of Licensed Commercial Banks in Zambia
  3. ↑ List of Commercial Banks Operating In Zambia
  4. ↑ FABZL Charges No ATM Fees
  5. ↑ December 2007 Balance Sheet
  6. ↑ History of FABZL
  7. ↑ Shareholders of FABZL
  8. ↑ Branches of FABZL
  9. ↑ Key People at FABZL

External links

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