First Capital Bank Zambia Limited

First Capital Bank Zambia Limited, is a commercial bank in Zambia that is licensed by the Bank of Zambia, the central bank and national banking regulator.[2] It is a subsidiary of FMBCapital Holdings Plc, a financial services conglomerate, based in Mauritius, whose shares of stock are listed on the Malawi Stock Exchange and has subsidiaries in Botswana, Malawi, Mozambique, Zambia and Zimbabwe.[3]

First Capital Bank Zambia Limited
TypePublic
IndustryBanking
Founded2010 (2010)
HeadquartersGround Floor, Kwacha Pension House, Plot. 4604, Tito Road, Lusaka, Zambia
Key people
Mark O’Donnell
Chairman
Hitesh Anadkat
Vice Chairman
Jitto Kurian
Chief Executive Officer
ProductsLoans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
RevenueAftertax: ZMW:28,944,868 (US$1.6 million) (2018)[1]
Total assetsZMW:1.2 trillion (US$65 million) (2018)[1]
Number of employees
118 (2018)[1]
Websitehttps://www.firstcapitalbank.co.zm/

Location

The headquarters of the bank and its main branch, are located at the Ground Floor, Kwacha Pension House, Plot. 4604, Tito Road, in Lusaka, Zambia's capital city. The geographical coordinates of the bank's headquarters are:15°24'55.0"S, 28°17'47.0"E (Latitude:-15.415278; Longitude:28.296389).[4]

Overview

First Capital Bank Zambia Limited is a retail bank that focuses on meeting the banking needs of small and medium enterprises in Zambia. As of December 2018, the bank's total assets were ZMW:1.2 trillion (US$65 million), with shareholders' equity of ZMW:155,734,064 (US$8.5 million). At that time, the bank served almost 8,700 customers at 7 branches an 7 ATMs and employed 118 staff members.[1]

History

The bank was established in 2010 as International Commercial Bank Zambia. In 2013, First Merchant Bank successfully acquired the subsidiaries of International Commercial Bank in Malawi, Mozambique and Zambia. Although the banking business of ICB Malawi was not viable, FMB would be able to enter into the other two countries through the acquisition.[5]

In December 2017, First Capital Bank Zambia became a subsidiary of First Merchant Bank Capital Holdings Plc, of Mauritius, whose shares trade on the Malawi Stock Exchange (MSE), under the symbol: FMBCH[6]

In December 2019, First Capital Bank Zambia received a four-year loan worth US$10 million from the Netherlands Development Finance Company (FMO), for onward lending to SMEs in Zambia.[7]

Ownership

The First Capital Bank Group maintains a 49 percent shareholding in First Capital Bank Zambia Limited.[3]

Branches

The bank's headquarters are located at: Ground Floor, Kwacha Pension House, Plot. 4604, Tito Road, Lusaka, Zambia. The bank maintains brick-and-mortar branches as these locations:[8]

  1. Kamwala Branch: Plot. 228, Chilibulu Road, Lusaka
  2. Kitwe Branch: Ground Floor, Mudzi House, Plot. 189, Kanyanta Avenue, Kitwe
  3. KPTF Branch: Ground Floor, Kwacha Pension House, Plot. 4604, Tito Road, Lusaka
  4. Cairo Road Branch: Plot. 10460, Cairo Road at Malasha Road, Northend, Lusaka
  5. Industrial Area Branch: Shop Number 1, Stand Number 8357, Radian Park, Ground Floor, Building Number 1, Industrial Area, Lusaka
  6. Makeni Branch: Stand Number 26592C, Kafue Road, Makeni, Lusaka
  7. Ndola Branch: Shop Number 1, Rekay Shopping Mall, Plot. 10068, President Avenue, Building Number 1, Ndola

Governance

Mark O’Donnell is the chairman and Hitesh Anadkat is the vice chairman of the eight-person board of directors.[9] Jitto Kurian serves as the chief executive officer of the bank.[10]

See also

References
  1. First Capital Bank Zambia (August 2019). "Financial Highlights For The Year Ended 31 December 2018" (PDF). First Capital Bank Zambia Limited. Retrieved 8 April 2020.
  2. Bank of Zambia (2018). "List of Registered Banks in Zambia" (PDF). Lusaka: Bank of Zambia. Retrieved 8 April 2020.
  3. African Financials (18 May 2018). "Profile of FMBCapital Holdings Plc". Africanfinancials.com. Retrieved 8 April 2020.
  4. Google (8 April 2020). "Location of the Headquarters of First Capital Bank Zambia Limited" (Map). Google Maps. Google. Retrieved 8 April 2020.
  5. CFTC Malawi (16 December 2013). "Takeover / Merger between First Merchant Bank and International Commercial Bank". Lilongwe: Competition and Fair Trading Commission of Malawi (CFTC Malawi). Retrieved 8 April 2020.
  6. Alfred Chauwa (20 September 2017). "FMB Shareholders Make Historic Malawi Stock Exchange Debut". United Kingdom: Nyasa Times. Retrieved 8 April 2020.
  7. FMO (6 December 2019). "First Capital Bank Limited (Zambia): Project Details". The Hague, Netherlands: Netherlands Development Finance Company (FMO). Retrieved 8 April 2020.
  8. First Capital Bank Zambia (8 April 2020). "The Branches of First Capital Bank Zambia". Lusaka: First Capital Bank Zambia. Retrieved 8 April 2020.
  9. First Capital Bank Zambia (8 April 2020). "Board of Directors of First Capital Bank Zambia". Lusaka: First Capital Bank Zambia. Retrieved 8 April 2020.
  10. First Capital Bank Zambia (8 April 2020). "Management Team of First Capital Bank Zambia". Lusaka: First Capital Bank Zambia. Retrieved 8 April 2020.

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