View source for Zambia National Commercial Bank

:''"Zanaco" redirects here; for the football club, see [[Zanaco FC]].''
{{Infobox company |
  name   = Zambia National Commercial Bank|
  logo   = Zanaco logo.jpg|
  type   = Public;:[[Lusaka Stock Exchange|LuSE]]:'''ZANACO'''|
  company_slogan = Big, Strong, Reliable|
  foundation     = 1969|
  location       =  [[Lusaka]], [[Zambia]]|
  key_people     = [[Charity C Lumpa]]<br/>Chairperson<br/> Bruce Dick<br/>Managing Director|
  num_employees      = 1,180+ (2011)|
  assets         = US$900+ million (ZMK:4.72 trillion) (2011)|
  revenue        = {{profit}} Aftertax: US$23 million (ZMK:121 billion) (2011)|
  industry       = Financial Services|
  products       = Loans, Checking, Savings, Investments, Debit Cards
  homepage       = [http://www.zanaco.co.zm Homepage]
}}

'''Zambia National Commercial Bank''', commonly referred to by the name "'''Zanaco'''", is a commercial bank in [[Zambia]]. It is one of the commercial banks in the country, licensed by [[Bank of Zambia]], the national banking regulator.<ref>[http://www.boz.zm/ List of Licensed Commercial Banks In Zambia]</ref>

==Overview==
Zanaco is a large financial services provider in Zambia. As of December 2011, the bank's total assets were valued at US$900 million (ZMK:4.72 trillion), with shareholders' equity of about US$111.2 million (ZMK:582.7 billion), according to the bank's 2011 audited financial statement.<ref>[http://b2icontent.irpass.cc/1992%2F133946.pdf?AWSAccessKeyId=1Y51NDPSZK99KT3F8VG2&Expires=1339736241&Signature=wQXLJLdDDy%2B1WZYqgli3aFerPxg%3D Audited December 2011 Annual Report]</ref>

==History==
Zanaco was founded in 1969 by the [[Government of Zambia]].<ref>[http://www.zanaco.co.zm/about%20us-history.htm History of Zanaco]</ref> Prior to 2007, the bank was 100% owned by the government. In that year, 49% 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'''. The current shareholding in the bank is detailed in the section below. According to the [[Bank of Zambia]], Zanaco was the most profitable commercial bank in Zambia during the first six months of 2009.<ref>[http://allafrica.com/stories/200910190160.html Zanaco is most profitable bank in Zambia during Q1 and Q2 of 2009]</ref>

==Ownership==
As of December 2011, the banks's stock is owned by the following corporate entities and individuals:<ref>[http://b2icontent.irpass.cc/1992%2F133946.pdf?AWSAccessKeyId=1Y51NDPSZK99KT3F8VG2&Expires=1339736241&Signature=wQXLJLdDDy%2B1WZYqgli3aFerPxg%3D Zanaco December 2011 Shareholding]</ref>


{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
|+ Zanaco Stock Ownership
! Rank !!Name of Owner!!Percentage Ownership
|-
|1||Rabobank||45.59
|-
|2||[[Government of Zambia]]||25.00
|-
|3||Public||24.68
|-
|4||Lizara Investments Limited*||3.41
|-
|5||Employee Share Ownership Programme (ESOP)||1.32
|-
|||'''TOTAL'''||'''100.00'''
|-
|}

* Lizara Investments Limited is an investment subsidiary of Zambia National Farmers Union (ZNFU) <ref>[http://allafrica.com/stories/200910190160.html List of Investors in Zanaco]</ref>

==Branch Network==
Zanaco's main branch is located at the bank's headquarters in [[Lusaka]], Zambia's capital and largest city. As of February 2011, the bank has fifty-seven fully functional branches, spread across the entire country.<ref>[http://allafrica.com/stories/201102140838.html Zanaco With 57 Branches In February 2011]</ref> In addition, Zanaco has partnered with the Zambian Post-office known as ''Zampost'' to allow Zanaco customers to deposit and withdraw funds from their accounts at Zampost outlets which total about one hundred, distributed all over Zambia, in both rural and urban locales. By July 2012, the number of fully fledged bank branches (including Agency Branches), had increased to 62.<ref>[http://allafrica.com/stories/201207230115.html Zanaco With 62 Branches In July 2012]</ref>

==Community service==
Zanaco is the sponsor of [[Zanaco F.C.]], a football club based in [[Lusaka]], the capital city of Zambia.

==See also==
* [[List of banks in Zambia]]
* [[Economy of Zambia]]

==External links==
*[http://www.zanaco.co.zm/ Zambia National Commercial Bank official site]
*[http://b2icontent.irpass.cc/1992%2F133946.pdf?AWSAccessKeyId=1Y51NDPSZK99KT3F8VG2&Expires=1339736241&Signature=wQXLJLdDDy%2B1WZYqgli3aFerPxg%3D Zanaco December 2011 Annual Report]
*[http://www.alacrastore.com/storecontent/bir/518297 Zambia National Commercial Bank, at Alacrastore]
*[http://www.bloomberg.com/apps/quote?ticker=ZANACO:ZL Zambia National Commercial Bank, at Bloomberg]

==References==
{{reflist|30em}}

[[Category:Companies of Zambia]]
[[Category:Banks of Zambia]]
[[Category:Lusaka]]
[[Category:Banks]]
[[Category:1969 establishments in Zambia]]
[[Category:Companies established in 1969]]