Zanaco To Reach 1 Million Customer Base In 2015


Zambia National Commercial Bank (Zanaco) aims to increase its customer base to 1 million by the end of 2015.

According to the Managing Director of Zanaco Mr. Bruce Dick, looking at the last year’s performance the bank is confident it can reach 1 million customers by the end of 2015.

The Bank’s customer acquisition increased from 720,000 in 2013 to over 850,000 countrywide in 2014.

The bank’s 2014 financial year saw an achievement of ZMW 143 million as profit after tax.

Mr. Dick also said that the bank would focus on higher deposit growth rates and stronger non-interest income.

Also the bank wants to invest more in its distribution network of the economy by adding more to its existing 244 Zanaco Express Agency network.

Zanaco has more than 62 branches in the country so far.

The bank also launched a deposit mobilisation campaign called “The Ponyamo Uwine” earlier this month to promote the saving culture in the citizens.

Zanaco serves private individuals, small scale farmers, small and medium enterprises (SMEs), local and international corporate customers, multilateral organizations and the government of the republic of Zambia.

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