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Access Bank Zambia
Access Bank Zambia, whose full name is Access Bank Zambia Limited, is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator.[1] LocationThe headquarters and main branch of Access Bank Zambia are located at 632 Cairo Road, in the city Lusaka, the capital city of Zambia.[2] The geographical coordinates of the headquarters of Access Bank Zambia are: 15°24'43.0"S, 28°16'49.0"E (Latitude:-15.411944; Longitude:28.280278).[3] OverviewThe bank is a medium-sized retail bank, serving the needs of Zambian companies, small and medium sized enterprises and individuals. As of December 2022[update] Access Bank Zambia had assets valued at ZMW:5,869,391,000 (approximately US$528.24 million), with shareholders equity of ZMW:962.87 million (US$86.66 million).[4] The bank, which was established on 24 September 2008, is a subsidiary of Access Bank Group, an international bank that maintains headquarters in Nigeria and has subsidiaries in eight countries in Africa one country in Western Europe.[5] Access Bank GroupBy virtue of its shareholding, Access Bank Zambia is a member of the Access Bank Group, a financial services conglomerate, whose shares are listed on the Nigerian Stock Exchange and whose total asset valuation exceeded US$18.82 billion (NGN:7.28 trillion), as of June 2020.[6] The group has banking subsidiaries in Democratic Republic of the Congo, Gambia, Ghana, Kenya, Nigeria, Rwanda, Sierra Leone and the United Kingdom. The group maintains representative offices in Lebanon, United Arab Emirates, India and China.[7][8] BranchesThe branches of Access Bank Zambia include the following:[2]
Acquisition of Cavmont BankIn August 2020 Access Bank Zambia entered into a binding commitment to acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank, another Zambian commercial bank. The transaction, which requires regulatory and shareholder approval, is expected to close in Q4 of 2020.[9][10] Merger with Atlas Mara Bank ZambiaIn October 2021, Access Bank Zambia signed binding agreements to merge with Atlas Mara Bank Zambia Limited. The transaction which requires regulatory approval in Nigeria and Zambia, is expected to conclude in 2022. The merger of Access Bank Zambia and Cavmont Bank was concluded in 2000.[11] It is anticipated that when the merger with Atlas Mara Bank Zambia is concluded, Access Bank Zambia's total assets will exceed US$1 billion, with over 300,000 customer accounts and 70 branches and baking agencies.[12] See alsoReferences
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