Zambia National Commercial Bank Company Profile and Governance

Zambia National Commercial Bank has a strong foundation in governance, with a board of directors that oversees the bank's operations. The board is responsible for making key decisions and ensuring the bank's strategy aligns with its mission.

The bank's governance structure is designed to promote good corporate governance practices, which is essential for building trust with customers and stakeholders. This includes transparency, accountability, and fairness in all aspects of the bank's operations.

Zambia National Commercial Bank is a subsidiary of ZCCM-IH, a diversified investment holding company. ZCCM-IH has a significant stake in the bank, which provides a stable source of funding and support.

Zanaco has a rich history dating back to 1969 when it was established to serve the financial needs of the Zambian economy.

The bank has since evolved into a leading bank nationwide, with a majority stake still owned by Zambians, making it a "citizen-owned" bank.

Zanaco's partnership with Rabobank enables it to benefit from technical assistance and best practices in various areas of banking.

The bank's strategic focus is centered around improved service delivery, guided by its Vision, Mission, and Values.

Zanaco has over 978,000 customers across various sectors, including Personal, Corporate, Government, SME, and Agriculture.

The bank's staff of 1,361 dedicated employees are its number one resource, driving the agenda with their hard work and dedication.

To ensure maximum output and employee well-being, Zanaco invests in training and takes good care of its staff.

Zanaco is the largest employer in the Zambian banking sector, with a significant impact on the local economy.

Here is a brief overview of Zanaco's key statistics:

The Zambia National Commercial Bank has a well-defined structure that supports its operations. It is a commercial bank that offers a range of financial services to individuals and businesses.

The bank is governed by a board of directors that oversees its overall strategy and direction. This board is responsible for making key decisions that impact the bank's performance.

The bank's management team, led by the Managing Director, is responsible for implementing the board's decisions and ensuring the bank's day-to-day operations run smoothly.

The ownership structure of Zanaco is a key aspect of its governance. As of December 2022, the bank's stock was owned by the following corporate entities and individuals.

Arise BV is the largest shareholder, holding a 45.59% stake in the bank. This investment company is co-owned by Rabobank, Netherlands Development Finance Company, and Norfund.

The Industrial Development Corporation (IDC) holds a 25% stake in Zanaco, making it the second-largest shareholder. This indicates a significant presence of the IDC in the bank's ownership structure.

The remaining 19.41% of the bank's stock is owned by the public. This suggests that a portion of the population has a vested interest in the bank's performance.

The National Pension Scheme Authority (NAPSA) also holds a 10% stake in Zanaco, bringing the total ownership to 100%.

Here is a breakdown of the ownership structure:

In a well-designed control system, the governing body has the authority to make decisions that affect the entire organization. This is often seen in a hierarchical structure where the board of directors makes high-level decisions and delegates tasks to lower-level management.

The board of directors typically consists of 5-15 members who are responsible for setting the overall direction and strategy of the organization. They usually meet quarterly to discuss key issues and make important decisions.

A key aspect of a control system is the establishment of clear policies and procedures to guide decision-making and ensure accountability. This is often achieved through the development of a comprehensive policy manual that outlines the organization's values, mission, and goals.

The governing body is also responsible for ensuring that the organization's financial resources are managed effectively and efficiently. This includes setting budgets, approving financial reports, and overseeing the financial management team.

In some cases, the governing body may also have the authority to appoint and remove key personnel, such as the CEO or other senior executives. This is often seen in organizations with a strong centralized leadership structure.

Zambia National Commercial Bank is located in the heart of Lusaka, the capital and largest city in Zambia. Its headquarters and main branch are situated in Zanaco House, at the corner of Cairo Road and Chainda Place, in the central business district.

The bank's address is 2118–2121 Cairo Road, Lusaka, Zambia, making it easily accessible to customers and visitors. The coordinates of the bank's headquarters are: 15°25'25.0"S, 28°17'00.0"E (Latitude:-15.423611; Longitude:28.283333).

The bank is a member of the Banks of Zambia, and its operations are closely tied to the local business community, with many companies based in Lusaka relying on the bank for their financial needs.

The bank's headquarters and main branch are located in Zanaco House, at the corner of Cairo Road and Chainda Place, in the central business district of Lusaka, the capital and largest city in Zambia. The address is 2118–2121 Cairo Road, Lusaka, Zambia.

The bank's headquarters are situated at coordinates 15°25'25.0"S, 28°17'00.0"E, which can be broken down into Latitude: -15.423611 and Longitude: 28.283333.

The bank's location is a hub for the financial industry, with several nearby institutions, including the Lusaka Stock Exchange, where the bank is listed.

Zambia National Commercial Bank Plc has reported its earnings results for both the fourth quarter and full year ended December 31, 2024, as well as for the full year ended December 31, 2023.

The bank reported its earnings results for the fourth quarter and full year ended December 31, 2024 on January 30. This is the most recent information available.

Here are the key dates for the bank's earnings reports:

The financial performance of Zambia National Commercial Bank Plc is a fascinating topic, and one area that stands out is sales by activity. Corporate Banking (Excluding Treasury) saw significant growth, with sales increasing from 797M in 2019 to 1.85B in 2023.

The bank's retail banking arm also experienced growth, with sales rising from 590M in 2019 to 979M in 2023. This suggests that the bank is expanding its customer base and increasing its market share.

Business Banking, which was not present in 2019 and 2020, saw sales of 370M in 2021, increasing to 573M in 2023. This indicates a strong start for this segment.

Digital Banking, which also began in 2021, showed steady growth, with sales rising from 199M in 2021 to 343M in 2023. This is a promising trend for the bank's digital offerings.

The Others category saw sales decline from 8.38M in 2019 to -11.74M in 2023. This could be due to a variety of factors, including changes in market conditions or competition.

Treasury sales saw significant growth, increasing from 169M in 2019 to 1.53B in 2023. This is a substantial increase and suggests that the bank is becoming a major player in this area.

Here's a breakdown of the sales by activity for Zambia National Commercial Bank Plc:

In the financial sector, there are several notable banks that have reported their earnings results. Zambia National Commercial Bank Plc, for example, has reported its earnings results for both the fourth quarter and full year ended December 31, 2024, and the full year ended December 31, 2023.

Zambia National Commercial Bank Plc has reported its earnings results for two separate periods, with the most recent report being for the fourth quarter and full year ended December 31, 2024, released on January 30.

The bank has also reported its earnings results for the full year ended December 31, 2023, which was released on January 14.

Here is a summary of the bank's earnings results for the two periods:

These reports provide valuable insights into the bank's financial performance, including its revenue, expenses, and profit margins.

The management team at Zambia National Commercial Bank is led by Mukwandi Chibesakunda, who serves as the CEO.

The bank's management team includes several key members, each with a specific role.

Mukwandi Chibesakunda is the Chief Executive Officer, and Itwi Kalaluka is the Director of Finance/CFO.

Temba Nonde is the Compliance Officer, while Joseph Shiku is the Chief Tech/Sci/R&D Officer.

Vincent Chuunga is the Chief Operating Officer.

As you'd expect, a board of directors plays a crucial role in guiding the direction of a company. Let's take a closer look at the board members of Zambia National Commercial Bank Plc.

The chairman of the board is Regina Mulenga, who took on the role on November 21, 2023.

Regina Mulenga and Oliver Saasa are the two chairmen of the board.

One of the board members, David Musunga, has been part of the team since March 30, 2021.

Deepak Malik, a 58-year-old director, has been serving on the board since December 31, 2021.

Leslie Horne and Owen Silavwe are two board members who are yet to serve a specific tenure.

Here are the board members with their corresponding roles and tenures:

Management is a crucial aspect of any organization, and having the right people in key positions can make all the difference. Mukwandi Chibesakunda is the CEO of Zambia National Commercial Bank Plc, overseeing the overall direction of the company.

In a well-structured management team, each member has a specific role to play. The Director of Finance/CFO, Itwi Kalaluka, is responsible for managing the bank's finances and making strategic financial decisions.

A good manager knows how to delegate tasks effectively and empower their team members to take ownership of their work. Temba Nonde serves as the Compliance Officer, ensuring that the bank operates within the bounds of regulatory requirements.

Technology plays a vital role in modern banking, and the Chief Tech/Sci/R&D Officer, Joseph Shiku, is responsible for driving innovation and implementing new technologies. Vincent Chuunga, the Chief Operating Officer, oversees the day-to-day operations of the bank, ensuring that everything runs smoothly.

Here are the key managers at Zambia National Commercial Bank Plc:

Zambia National Commercial Bank is a major financial institution in Zambia, established in 1973 as a parastatal bank. It was privatized in 1996 and has since become a leading commercial bank in the country.

The bank has a strong presence in Zambia, with over 50 branches across the country. Its head office is located in Lusaka, the capital city of Zambia.

Zambia National Commercial Bank offers a wide range of financial services, including corporate banking, retail banking, and treasury services. Its products include savings accounts, loans, and credit cards.

The bank's mission is to provide excellent customer service and to be a leading financial institution in Zambia. It aims to achieve this by investing in technology and by building strong relationships with its customers.

Zambia National Commercial Bank is committed to contributing to the economic development of Zambia by providing financial services to individuals, businesses, and government institutions.