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 (Latitude:-15.423611; Longitude:28.283333). Overview. Zanaco is a large  financial services provider in Zambia. , the bank's total assets were valued at ZMW:19.377 billion (US$911 million), with shareholders' equity of ZMW:1.214 billion (US$57.07 million). 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 (LUSE), where they trade under the symbol: (ZANACO). According to the bank's quarterly financial statements as  at 31 March 2021, net income was ZMW209m (US$9.46m). The current shareholding in the bank is detailed in the section below. Ownership. , the banks's stock was owned by the following corporate entities and individuals: Branch Network. Zanaco's main branch is located at the bank's headquarters in Lusaka, Zambia's capital and largest city. , the bank had one of the largest distribution networks in the country with 60 branches and agencies and over 200 automated teller machines, spread across the entire country. In addition, Zanaco has over 8,000 Zanaco Xpress agents, a partnership which allows  Zanaco customers to deposit and withdraw funds from their accounts in both rural and urban locales. Community service. Zanaco is the sponsor of Zanaco FC, a football club based in Lusaka, the capital city of Zambia.