Zambia National Commercial Bank
Zambia National Commercial Bank, commonly referred to by the name "Zanaco", is a commercial bank in Zambia. It is licensed by Bank of Zambia, the central bank and national banking regulator.
Location
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 coordinates of the bank's headquarters are: 15°25'25.0"S, 28°17'00.0"E.Overview
Zanaco is a large financial services provider in Zambia., the bank's total assets were valued at ZMW:9.543 billion, with shareholders' equity of ZMW:1.024 billion.History
Zanaco was founded in 1969 by the Government of Zambia. Prior to 2007, the bank was 100 percent owned by the government. In that year, 49 percent of its shares were sold to the Rabobank Group, a banking company from the Netherlands. In 2008, the shares of Zanaco were listed on the Lusaka Stock Exchange, where they trade under the symbol: '''. The current shareholding in the bank is detailed in the section below. According to the Bank of Zambia, Zanaco was the most profitable commercial bank in Zambia during the first six months of 2009.Ownership
, the banks's stock was owned by the following corporate entities and individuals:| Rank | Name of Owner | Percentage Ownership |
| 1 | Arise BV*1 | 45.59 |
| 2 | Industrial Development Corporation | 25.00 |
| 3 | Public | 16.00 |
| 3 | National Pension Scheme Authority | 10.00 |
| 4 | Lizara Investments Limited*2 | 3.41 |
| TOTAL | 100.00 | - |
- 1 Arise BV is an investment company co-owned by Rabobank, Netherlands Development Finance Company and Norfund.
- 2 Lizara Investments Limited is an investment subsidiary of Zambia National Farmers Union
Branch Network