Top 20 Banks In Zambia & Their Addresses

This article shows Banks in Zambia and their addresses. “BOZ” is a central Bank, in charge of regulating financial institutions, including commercial banks in Zambia. Other functions, include Performing a role of the the central bank. Therefore, prescribes banking regulations and ensures fiscal control.

Thus, its action include financial and monetary policies regulations. Bank of Zambia, hence ensures commercial banks adhere to policies. BOZ was established in 1964, immediately after Zambia became a independent state. Thus, making it a predecessor for Bank of northern Rhodesia for these Banks in Zambia and their addresses.

Here’s what you will find in this article:
  • Banks in Zambia you must know
  • Bank of Zambia and its functions
  • International banks in Zambia
  • Market share of banks in Zambia
  • List of commercial banks in Zambia, including list of foreign banks in Zambia
  • And how many banks are in Zambia the total number of those operating locally.

Also Read: How To Open a Bank Account In Zambia

Zambia with a stable financial market, opens doors to bank investors every year. More than 20 Banks in the country currently operational, located nationwide. You can easily find any bank in each town and province. Additionally, this list includes private and Government banks.

Functions Of The Central Bank (BOZ)

Central bank deals with implementation of fiscal and monetary policies. Its in charge of monitoring cash reserves, money flow and controls of foreign balances. Another major function, been to ensures money circulation. Zambian central bank control’s credit loans as well.

It protects the depositor’s Interest, and provides guidance during any financial crisis. Provides supports toward the central government. Mostly applying to a budget deficit. Control of treasury bills, as well as Government bonds are close monitored by the central bank.

Also Read: Top 10 Insurance Companies From Zambia

Today Zambia has 20 privately owned Banks operational. Government controls part of the banking sector to ensure monetary policy. Part of the strategy to improve fiscal discipline and IMF’s economic program. Improves economic and GDP growth. If you have interest to start a business and invest in Zambia’s banking sector. This guide will give you an overview of Banks in Zambia and their addresses.

Financial Statement For Banks In Zambia (Assets, Revenue & Net Profit)

Bank NameTotal AssetsRevenueNet Income & Profit
Access Bank Zambia1.05 billion (ZMK)22.5 million (ZMK)11.7 million (ZMK)
First Alliance Bank678.08 million (ZMK)112 million (ZMK)25.91 million (ZMK)
Investrust Bank1.19 billion (ZMK)148.1 million (ZMK)38 million (ZMK)
Ecobank Zambia1.5 billion (ZMK)1.19 million (ZMK)19 billion (ZMK)
Cavmont Bank Limited946.84 million (ZMK)120.15 million (ZMK)696,000 million (ZMK)
Stanbic Bank92.1 million (ZMK)19.65 million (ZMK)88.4 million (ZMK)
Absa Bank Plc192.1 billion (ZMK)92.1 million (ZMK)112.1 million (ZMK)
Standard Chartered Bank Zambia292.5 billion (ZMK)192.1 million (ZMK)982.1 billion (ZMK)
Zambia National Commercial Bank200 billion (ZMK)130.9 million (ZMK)5.19 million (ZMK)

Requirements For Setting Up a Bank In Zambia

Do you plan to start you own Banks In Zambia? Probably to finance your own banking business. Well, here are the requirements to start a banking business in Zambia and procedure.

Banking business procedure and requirements to operate a financial banking institution in Zambia. The banking system of Zambia is regulated by the Bank of Zambia through a Banking and Financial Services Act (BFSA).

Its an original document drafted in 1994, to provide an institution authority to operate and execute banking privileges. Zambian Banks acquire licenses after making applications.

Standard Chartered Bank Accounts
Types of Accounts At Standard Chartered Bank Zambia

This ACT enables authority which includes regulating and supervision of a all the banks registered in the country. This is to ensure there is no violation affecting the financial echo system. It extends its objective to promote a safe environment for both institutions and the customers using banks.

Banking incenses to have a bank business in Zambia, is executed by the Registrar of Banks. Registrar of Banks gives incenses to those wanting to run a bank and any other financial Institutions. Registration can be done by visiting Registrar of Banks office situated at the main head office of Bank of Zambia, Lusaka.

How To Obtain A Bank License In Zambia

  • Clearance Of A Name: Formal submission of a proposed name is to be made to the company name registrar. To avoid any complications that may arise from conflicting of bank names. Any proposed name for a particular bank must be cleared, validated and approved. Approval of bank name is done by Registrar of Companies or Registrar of Societies if a formal written document.
  • Registration of Company at Patents (PACRA): Immediately the bank name has been approved, application must proceed to send application for registration. Particularly apply to patents and companies registration agency.
  • Informal Filling Stage With Applicants: A meeting is held with applicants to explain in detail the requirements, draft a feasibility strategy and proposal reveal. Major requirements are explained during this stage to future bank owners.
  • Submit A Formal Application: Submit a formal application to the registrar of banks, a thorough review is carried out to grant a license. Withing 180 days applicants get a response telling them a response if the application was approved or denied.

Also Read: How To Start Any Business In Zambia

Registrar of banks can choose to accept or deny approval of any applicant, based on a number of things. An application is considered completed having met the important requirement and a fee for license requirement paid.

  • Banking License Requirements: The following forms collected from Bank of Zambia must be filled in and completed. A Form BFI filled by the beneficiaries directors, chief executive officer, shareholders, etc as well as chief financial officers.

Bank Applicants Must Pay The Following Fees:

  • An application none-refundable fee of 50,000 units of fees K9,000,000 (current) to be paid during application.
  • Annual fee of 25,000 units of fees to be paid K4, 500, 000 (current) every year in the first month.

Top 20 Banks in Zambia And Their Addresses (2020)

Bank NameBranch NameP.O BoxContactLocation
ACCESS BANK ZAMBIA LIMITEDAB BankP.O. Box 38173, LUSAKA+260-211-220830/33Lusaka
AB BANK ZAMBIA LIMITEDAccess+260-211-220830/33Lusaka
ABSA BANK ZAMBIA LIMITIED PLCAbsa BankPO Box 31936+260-211- 225553Lusaka
ECOBANK ZAMBIA LIMITEDEcobankP.O. BOX 36187, LUSAKA+260-211-250202/4Lusaka
CAVMONT BANK LIMITEDCavmontP.O. BOX 32222, LUSAKA+260-211-224280/6/7Lusaka
CITIBANK ZAMBIA LIMITEDCitibankP.O. BOX 30037, LUSAKA+260 211 444492/93Lusaka
INDO-ZAMBIA BANK LIMITEDIndo-ZambiaP.O. BOX 35411, LUSAKA+260-211-224653Lusaka
INVESTRUST BANK PLCInvestrustP.O. BOX 32344, LUSAKA+260-211-294682/5Lusaka
STANDARD CHARTERED BANK PLCStanchartP.O. BOX 32238, LUSAKA+260-211-229242-60Lusaka
STANBIC BANK ZAMBIA LIMITEDStanbicP.O. BOX 32111, LUSAKA+260-211-229285-6Lusaka
UNITED BANK FOR AFRICA UBAP.O. Box 36794, LUSAKA+260-211-255897Lusaka

Commercial Banks In Zambia (Overview)

These are the best investment and Commercial Banks In Zambia that perform the following duties:

  1. Rendering best banking services to people of the country and government.
  2. To control license, supervising and regulate small financial institutions in Zambia. Ensure safe financial flow and operational transactions.
  3. Finally Commercial Banks manage currency conversions, payment systems, currency flotations and carry out operations of the central bank.

Also Read: Functions Of Commercial Banks

Image below shows a complete list for all Commercial Banks In Zambia

Hence , you can immediately open a Bank account with any of these banks today. They provide extensive banking solutions and all types of bank accounts. You can register online, through a phone and preferably personal registration for good interest rates. Withing minutes you can have a fully working bank account working under your name. Since, you have known best banks in Zambia and their addresses.

How To Open A Bank Account In Zambia

  • National registration card (NRC): Provide a document that proves real identity. This document must be original copy not fake.
  • Applicants Must be 18 years and above: Produce a green national registration card. Card collected from the age of 16 years at ministry of home affairs.
  • Provide Proof of address: Address and a valid location is needed. It must include plot number, street name and post address.
  • Passport size photos (current): Passport sized photos importantly needed for Bank profiling. You must provide your own in advance.
  • Opening Fee: Must pay a certain fee to have your account activated. Account opening fees vary in Zambia between 50.00 ZMK to 700 ZMK.


Jonathan (Themillionair)
Professional South African blogger, business writer and financial accountant. Our website has over 7 experienced contributors providing information about finance, marketing, insurance, web development, goods, services, travel guides and amazing stories about Africa.

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