Access Bank Zambia, whose full name is Access Bank Zambia Limited, is a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

Zambia Zambia, officially the Republic of Zambia, is a landlocked country at the crossroads of Central Africa, Central, Southern Africa, Southern and East Africa. It is typically referred to being in South-Central Africa or Southern Africa. It is bor ...

. It is licensed by the

Bank of Zambia The Bank of Zambia (BoZ), is the central bank of Zambia. Overview The principal responsibility of the bank is to create and implement monetary policy that will maintain the economic stability of the country. The Bank is active in promoting financ ...

, the

central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

and national banking regulator.

Location

The headquarters and main branch of Access Bank Zambia are located at 632 Cairo Road, in the city

Lusaka Lusaka ( ) is the Capital city, capital and largest city of Zambia. It is one of the fastest-developing cities in southern Africa. Lusaka is in the southern part of the central plateau at an elevation of about . , the city's population was abo ...

, the

capital city A capital city, or just capital, is the municipality holding primary status in a country, state (polity), state, province, department (administrative division), department, or other administrative division, subnational division, usually as its ...

of Zambia. 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).

Access Bank Group

By virtue of its shareholding, Access Bank Zambia is a member of the

Access Bank Group Access Bank Group is a financial services conglomerate, headquartered in Nigeria, with subsidiaries in Angola, the Democratic Republic of the Congo, Ghana, Ivory Coast, Kenya, Nigeria, Rwanda, The Gambia, Guinea, Cameroon, Sierra Leone, Malta, ...

, a financial services conglomerate, whose shares are listed on the

Nigerian Stock Exchange The Nigerian Stock Exchange (NGX), now Nigerian Exchange Group, is an integrated stock exchange group in Africa founded in 1961 in Lagos. Following the demutualization of the NSE in 2021, NGX Group now has 3 subsidiaries - Nigerian Exchange Limit ...

and whose total asset valuation exceeded US$18.82 billion (NGN:7.28 trillion), as of June 2020. The group has banking subsidiaries in

Democratic Republic of the Congo The Democratic Republic of the Congo (DRC), also known as the DR Congo, Congo-Kinshasa, or simply the Congo (the last ambiguously also referring to the neighbouring Republic of the Congo), is a country in Central Africa. By land area, it is t ...

Gambia The Gambia, officially the Republic of The Gambia, is a country in West Africa. Geographically, The Gambia is the List of African countries by area, smallest country in continental Africa; it is surrounded by Senegal on all sides except for ...

Ghana Ghana, officially the Republic of Ghana, is a country in West Africa. It is situated along the Gulf of Guinea and the Atlantic Ocean to the south, and shares borders with Côte d’Ivoire to the west, Burkina Faso to the north, and Togo to t ...

Kenya Kenya, officially the Republic of Kenya, is a country located in East Africa. With an estimated population of more than 52.4 million as of mid-2024, Kenya is the 27th-most-populous country in the world and the 7th most populous in Africa. ...

Nigeria Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of Guinea in the Atlantic Ocean to the south. It covers an area of . With Demographics of Nigeria, ...

Rwanda Rwanda, officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of East Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator, Rwanda is bordered by ...

Sierra Leone Sierra Leone, officially the Republic of Sierra Leone, is a country on the southwest coast of West Africa. It is bordered to the southeast by Liberia and by Guinea to the north. Sierra Leone's land area is . It has a tropical climate and envi ...

and the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

. The group maintains representative offices in

Lebanon Lebanon, officially the Republic of Lebanon, is a country in the Levant region of West Asia. Situated at the crossroads of the Mediterranean Basin and the Arabian Peninsula, it is bordered by Syria to the north and east, Israel to the south ...

United Arab Emirates The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab E ...

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

and

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

Acquisition of Cavmont Bank

In August 2020 Access Bank Zambia entered into a binding commitment to acquire the entire issued ordinary share capital, assets and liabilities of

Cavmont Bank Cavmont Bank Limited is a commercial bank in Zambia. It is licensed by the Bank of Zambia, the central bank and national banking regulator. Location The headquarters and main branch of Cavmont Bank Limited are located at 2374 Thabo Mbeki Road, ...

, another Zambian commercial bank. The transaction, which requires regulatory and shareholder approval, is expected to close in Q4 of 2020.

Merger with Atlas Mara Bank Zambia

In October 2021, Access Bank Zambia signed binding agreements to merge with

Atlas Mara Bank Zambia Limited Atlas Mara Bank Zambia Limited (AMBZL), commonly referred to as ''Atlas Mara Zambia'', is a commercial bank in Zambia. Established on December 1, 2016 from the merger of BancABC Zambia Ltd. with Finance Bank Zambia Ltd., it is licensed by the Ban ...

. 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. 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.

References

External links