First Alliance Bank Zambia Limited

First Alliance Bank Zambia Limited
Private
Industry Banking
Founded January 1, 1994 (1994-01-01)
Headquarters Lusaka, Zambia
Key people
 Sanmukh R. Patel
Chairman
Cyril Patro
Managing Director[1]
Products Loans, credit cards, savings, investments, mortgages
Revenue Increase Aftertax: ZMW:25.91 million (US$2.65 million) (2016)[1]
Total assets ZMW:678 million (US$69.3 million) (2016)[1]
Number of employees
 101 (2016)[1]
Website Homepage

First Alliance Bank Zambia Limited (FABZL), also known as First Alliance Bank (Zambia), is a commercial bank in Zambia. It is licensed by Bank of Zambia, the central bank and national banking regulator.[2]

Location

The headquarters and main branch of the bank are located in Alliance House, at 627 Cairo Road, in the city of Lusaka, the capital and largest city of Zambia.[3] The geographical coordinates of the bank's headquarters are: 15°25'25.0"S, 28°16'57.0"E (Latitude:-15.423611; Longitude:28.282500).[4]

Overview

FABZL is a small financial services provider in Zambia, providing retail banking services to the communities it serves. Its niche market is the corporate clients in the mining and manufacturing sectors of the Zambian economy. As of December 2016, the bank controlled total assets of ZMW:678 million (US$69.3 million), with shareholders' equity of ZMW:169.86 million (US$17.35 million). At that time the bank employed 101 people.[1]

History

The bank was founded in 1994 by four businessmen, each controlling an equal shareholding position. Starting with one branch in Lusaka, Zambia's capital and largest city, the bank opened branches in other cities and towns in the country, focusing on the copper-belt region of the country.[5]

Ownership

The stock of First Alliance Bank Zambia Limited is privately held by four individuals. The table below shows the ownership percentage of each shareholder, as of May 2018:[6]

First Alliance Bank Zambia Limited Stock Ownership
RankName of OwnerPercentage Ownership
1Sanmukh R. Patel25.0
2Nitesh Patel25.0
3Daxa Patel25.0
4Mahendra Patel25.0
Total100.00

Branch network

The bank maintains five branches in the country, at the following locations, as of May 2018.[3]

  1. Main Branch: Alliance House, Cairo Road, Lusaka
  2. Industrial Branch: 5126 Lumumba Road, Lusaka
  3. East Park Branch: East Park Mall, First Floor, Unit D, at the corner of Thabo Mbeki Road and Great East Road, Lusaka
  4. Kitwe Branch: 8721 City Gate Office Park, President Avenue, Kitwe
  5. Ndola Branch: 16A President Avenue, Ndola.

Governance

The Chairman of the seven-person Board of Directors is Sanmukh R. Patel. The Managing Director is Cyril Patro. The chairman is a shareholder in the bank.[1]

See also

References

  1. 1 2 3 4 5 6 First Alliance Bank (30 June 2017). "Annual Report and Financial Statements for the Year Ended 31 December 2016" (PDF). Lusaka: First Alliance Bank Zambia Limited. Retrieved 1 May 2018.
  2. ↑ Bank of Zambia (1 May 2018). "List of Licensed Commercial Banks in Zambia". Lusaka: Bank of Zambia. Retrieved 1 May 2018.
  3. 1 2 First Alliance Bank (1 May 2018). "The Branch Network of First Alliance Bank Zambia Limited". Lusaka: First Alliance Bank Zambia Limited. Retrieved 1 May 2018.
  4. ↑ Google (1 May 2018). "Location of the Headquarters of First Alliance Bank Zambia Limited, Lusaka" (Map). Google Maps. Google. Retrieved 1 May 2018.
  5. ↑ First Alliance Bank Zambia (1 May 2018). "First Alliance Bank Zambia Limited: About Us". Lusaka: First Alliance Bank Zambia Limited. Retrieved 1 May 2018.
  6. ↑ First Alliance Bank Zambia (1 May 2018). "The Shareholders in First Alliance Bank Zambia Limited". Lusaka: First Alliance Bank Zambia Limited. Retrieved 1 May 2018.
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