Indo-Zambia Bank Limited

Indo-Zambia Bank Limited was established on 19 October 1984 as a joint banking venture involving the Government of Zambia and three Indian state-owned banks: Bank of Baroda, Bank of India, and Central Bank of India. Its creation gave the institution a distinct bilateral identity, reflected in the Indo-Zambia name, while placing it within Zambia’s regulated commercial-banking system. The supplied reference material does not provide a detailed chronology of the bank’s early operations, later recapitalizations, ownership changes, management transitions, or technology development. It does, however, identify the bank as an active commercial bank licensed by the Bank of Zambia. Over time, its stated business scope developed around the principal services expected of a full-service bank: current and savings deposits, fixed deposits, loans, investments, trade finance, bank assurance, and debit and credit cards. The institution is headquartered in Lusaka at Indo House, on Plot 1213/1214 at the corner of Addis Ababa Drive and Great East Road. Lusaka is Zambia’s capital and largest metropolitan area, making it a central location for the bank’s corporate administration and customer operations. The bank also maintains a national branch presence. The reference material states that it had 33 branches in various parts of Zambia as of December 2023, indicating a distribution model extending beyond the capital. Indo-Zambia Bank’s customer base includes both businesses and individuals. Its corporate role is supported by lending, investment services, trade finance, and other commercial banking facilities, while its retail role is supported by deposit accounts, loans, payment cards, and related services. The inclusion of bank assurance indicates an additional connection to insurance-related financial distribution, although the supplied sources do not identify specific insurance partners or products. The bank is also described as a significant employer in the communities it serves and as an active participant in corporate social-responsibility activities in Zambia. No named initiatives, dates, budgets, or measurable outcomes are provided in the reference material, so the history of its community programs cannot be documented in greater detail without additional sources. The available information identifies Michael Gondwe as chairperson of the six-person board and Kowdichar Shashidhar as Managing Director. It does not list the remaining directors or provide the dates on which the named executives assumed their positions. Ownership is described as being held by four investors corresponding to the founding parties, but the supplied excerpt does not include the ownership percentages. Consequently, no percentage allocation is stated here. By December 2023, the bank was reported to have total assets of ZMW 17.78 billion and shareholders’ equity of ZMW 2.28 billion. These figures provide a snapshot of its scale at that reporting date, but the supplied material does not include revenue, profit, capital ratios, non-performing loans, or a comparative historical series. Indo-Zambia Bank remains an active Zambian commercial bank with a nationally distributed branch network and a founding relationship linking Zambia’s public sector with Indian state-owned banking institutions.

• 2023

  National branch network and financial scale reported

  [1]Indo-Zambia Bank Limiteden.wikipedia.org

  Reference material reported 33 branches, ZMW 17.78 billion in total assets, and ZMW 2.28 billion in shareholders’ equity as of December 2023.

• 1984

  Indo-Zambia Bank was founded

  [1]Indo-Zambia Bank Limiteden.wikipedia.org

  The Government of Zambia and Bank of Baroda, Bank of India, and Central Bank of India established the bank on 19 October 1984.

A Zambia-focused full-service commercial bank with a Zambia–India founding heritage, serving retail, corporate, and community banking needs.

• Retail and corporate deposits

  Current accounts

  Transactional deposit accounts for customers requiring routine payments, receipts, and account access. The source identifies current accounts as part of the bank’s corporate and retail service portfolio but does not provide specific account features or eligibility criteria.

• Retail deposits

  Savings accounts

  Deposit products intended for personal or other savings needs. The supplied material lists savings accounts among the bank’s standard services, without specifying interest rates, minimum balances, or named variants.

• Term deposits

  Fixed deposits

  Term-based deposit products in which funds are placed for a defined period. Indo-Zambia Bank identifies fixed deposits as part of its offering, but the reference does not state available tenors or applicable returns.

• Lending

  Loans

  Credit facilities serving retail and corporate customers. The source confirms lending as a core banking service but does not distinguish the bank’s individual loan products, collateral requirements, pricing, or repayment structures.

• Corporate banking

  Trade finance

  Commercial banking support associated with domestic or international trade transactions. Trade finance is listed among the bank’s corporate services; the supplied sources do not specify instruments such as guarantees, documentary credits, or export facilities.

• Payments

  Debit and credit cards

  Payment-card services forming part of the bank’s retail and transactional offering. The source confirms both debit and credit cards but does not provide card-network, fee, rewards, or digital-wallet details.

1. 1Indo-Zambia Bank Limiteden.wikipedia.org