ZANACO releases 2018 Annual Report

March 15, 2019|

On behalf of the Board of Directors I am pleased to present the Zanaco Plc Annual Report to the 2018 Annual General Meeting.

The financial year 2018 ended on a positive note for the Bank and it is a year that was marked with a lot of progress in transforming the Bank and poising it to reclaim market leadership. There are still ways to go before fully attaining our goals and, looking back over the years, the Bank is in a far much better position than even as recently as 2016.

Financial Performance
The performance of the Bank continued to be encouraging and would have been more positive but for the Bank of Zambia driven cessation on unwarranted fees which were effected on 4th September 2018…

Shareholder Value
The Board and Management continued to ensure that shareholder value was a key agenda item. Whereas share price movements are a function of market activity, the Bank has improved the dividend yield which has increased over 100% from 2017…

The Future
The Bank is well on its way to achieving the 2020 medium term strategic goal of being the Top Transactional Bank in Zambia. The Bank is confidently well positioned to embrace digital developments to compete strongly and transform the face of banking in Zambia…

The Board’s gratitude goes to the Management and staff for their continued hard work and commitment to the continuous embedding of Zanaco as a material partner to the Zambian community and businesses. Whereas we are not yet where we want to be the Bank is in a far better and stronger position today…

Related download
Zanaco 2018 Annual report


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Zambia National Commercial Bank, commonly known as Zanaco, listed on the Lusaka Securities Exchange, serves retail customers, large corporations, agri-business and public sector clients. With the aid of Rabobank, a Dutch multinational banking and financial services company, providing management services and technical assistance, Zanaco is now one of the most solidly capitalised banks in Zambia.

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