Firstly, this article shows the top banks in Zambia and their addresses. The “BOZ” is a central bank, that is in charge of regulating financial institutions, including commercial banks in Zambia. Also, there are other functions of top banks in Zambia including performing the role of the central bank. Therefore, prescribes banking regulations and ensures fiscal control.

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Thus, its activities include financial and monetary policy regulations. Bank of Zambia, hence ensures commercial banks adhere to policies. As a result, BOZ was established in 1964, immediately after Zambia became an independent state. Thus, making it a predecessor for the 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
  • Also a list of commercial banks in Zambia, including a list of foreign banks in Zambia
  • Further, how many banks are in Zambia the total number of those operating locally

To emphasize, Zambia with a stable financial market opens doors to bank investors every year. More than 20 Banks in the country are currently operational and located nationwide. Therefore, 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)

By and large, the Central bank deals with the implementation of fiscal and monetary policies. Additionally, it is in charge of monitoring cash reserves, money flow, and controls of foreign balances. Another major function has been to ensure money circulation. Also, the Zambian central bank controls credit loans as well.

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It protects the depositor’s interest and provides guidance during any financial crisis. Further, it provides support to the central government. Control of treasury bills, as well as government bonds, is closely monitored by the central bank.


Top 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)

As a matter of fact, Zambia has 20 privately owned Banks operational. Therefore, the government controls part of the banking sector to ensure monetary policy. This is obviously part of the strategy to improve fiscal discipline and IMF’s economic program. Overall, it improves economic and GDP growth. Accordingly, continue reading if you have the interest to start a business and invest in Zambia’s banking sector. Moreover, this guide will give you an overview of the top banks in Zambia and their addresses.


Top 20 Banks in Zambia(Overview)

Bank NameBranch NameP.O BoxContactLocation
ACCESS BANK ZAMBIA LIMITEDAB BankP.O. Box 38173, LUSAKA+260-211-220830/33Lusaka
AFRICAN BANKING CORPORATION ZAMBIA LIMITEDBankABCP.O. BOX 39501, LUSAKA+260-211-227941Lusaka
AB BANK ZAMBIA LIMITEDAccess+260-211-220830/33Lusaka
ABSA BANK ZAMBIA LIMITIED PLCAbsa BankPO Box 31936+260-211- 225553Lusaka
BANK OF CHINA (ZAMBIA) LIMITEDBOCP.O. BOX 34550, LUSAKA+260-211-238711Lusaka
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
FINANCE BANK ZAMBIA LIMITEDFBZP.O. BOX 36762, LUSAKA+260-211-221808Lusaka
FIRST NATIONAL BANK ZAMBIA LIMITEDFNBP.O. BOX 36187, LUSAKA+260-211-366800Lusaka
FIRST ALLIANCE BANK ZAMBIA LIMITEDFABP.O. BOX 36326, LUSAKA+260-211-229303-6Lusaka
FIRST CAPITAL BANK ZAMBIA LIMITEDFCBP.O. BOX 32678, LUSAKA+260-211-368700Lusaka
INTERMARKET BANKING CORPORATION LIMITEDIntermarketP.O. BOX 35832, LUSAKA+260-211-227227-8Lusaka
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
ZAMBIA NATIONAL COMMERCIAL BANK PLCZanacoP.O. BOX 33611, LUSAKA+260-211-228979/82Lusaka

Requirements For Setting Up a Bank In Zambia

Firstly, do you plan to start your own Banks In Zambia? So you can finance your own banking business? The following are the requirements to start a banking business in Zambia and the procedures.

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Accordingly, banking business procedures and requirements are needed to operate a financial banking institution in Zambia. As a result, the banking system of Zambia is regulated by the Bank of Zambia through the Banking and Financial Services Act (BFSA).

Basically, it’s an original document drafted in 1994, to provide an institution the authority to operate and execute banking privileges. Then, Zambian Banks acquire licenses after making applications.

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

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Significantly, banking licenses to have a bank business in Zambia are executed by the Registrar of Banks. Registrar of Banks also gives licenses to those wanting to run a bank and any other financial institutions. Similarly, registration can be done by visiting the 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: Firstly, formal submission of a proposed name is to be made to the company name registrar. As a result, this avoids any complications that may arise from conflicting bank names. Also, any proposed name for a particular bank must be cleared, validated, and approved. Furthermore, the approval of the bank name is done by the Registrar of Companies or Registrar of Societies if a formal written document.
  • Registration of Company at Patents (PACRA): Then, if the bank name has been approved, the application is then sent for registration. Particularly, this applies to patents and companies’ registration agencies.
  • 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: When you submit a formal application to the registrar of banks, a thorough review is carried out to grant a license. However, from these top banks in Zambia, it can take up to 180 days for applicants to get a response to see if the application was approved or denied.

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

  • Banking License Requirements: The following forms collected from the best Bank of Zambia must be filled in and completed. A Form BFI is filled by the beneficiary’s directors, chief executive officer, shareholders, etc as well as chief financial officers.
Banking Fees:
  • An application non-refundable fee of 50,000 units of fees K9,000,000 (current) to be paid during application.
  • There is also an annual fee of 25,000 units of fees to be paid K4,500, 000 (current) every year in the first month.

Commercial Banks In Zambia (Overview)

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

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

The image below shows a complete list of all Commercial Banks In Zambia

Top Banks in Zambia

Hence, you can immediately open a Bank account with any of these banks today. Also, they provide extensive banking solutions and all types of bank accounts. Further, you can register online, through a phone, and preferably personal registration for good interest rates. As a result, within minutes you can have a fully working bank account working under your name. YOU will be greatly helped by top banks in Zambia, since, you have known the best banks in Zambia and their addresses.

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