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Zambia: Investrust Bank loans out K578bn

By NKOLE CHITALA

INVESTRUST Bank last year injected K9 billion in the expansion of three branch networks and loaned out K 578 billion. And the bank will launch the VISA green card and full internet banking products after investing K3 billion in the two new products this year.

The bank’s spokesperson Ackim Mwale said the bank opened Kafue, New Soweto Market and Chirundu branches under the expansion programme.

Mr Mwale said the bank’s medium-term strategy is to be present in all provincial centres.

“A lot of resources have already been committed to the planning phase, this is the overall strategy to bring banking closer to customers,” he said.

He said this in a statement released in Lusaka on January 24.

Mr Mwale said apart from investing in branch expansion, the bank has spent K3 billion on the introduction of new banking products.

He said the VISA green card cost the bank K2 billion while full internet banking with both account enquiry and transactional capability cost K1 billion.

Mr Mwale said the bank has also completed work to roll out a small and medium-scale enterprise (SME) product under the name ‘Kantemba’ account.

The account is aimed at catering for SMEs and will be operational early this year.

Meanwhile, Mr Mwale said the bank’s loan book stood at K473 billion as at end of December 2010.

He said the sectors covered under the loan book are agriculture, transport, construction, energy, manufacturing, mining and quarrying, trading and tourism.

He said K104 billion in loans was disbursed in 2010 while US$48 million was disbursed during the same period.

The bank’s gross loan book stood at K578 billion as at December, 2010.

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Comment:

15 responses to “Zambia: Investrust Bank loans out K578bn”

  1. Sarah kakusa says:

    Kindly assist me with the P roceedure for acquiring a loan with your bank for non investrust clients who bank with other banks.

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  11. namwinga luwiza says:

    May you please send for me the loan allocation for agriculture that investrust loans out

  12. Website Editor says:

    You have to be in Zambia and visit the bank yourself.

  13. elias musengwa says:

    dear sir/madam,

    good day to you. i would kindly want to know the procedures and requirements of obtaining a loan of a self employed individual. contact. 0974346151

  14. May you please send me the details on how to get a loan i work with freeworld plascon zambia and also holding an account with your bank. 0976948522 is my call line.

  15. boyd banda says:

    dear sir,

    kindly furnish me with information of how i can get a loan from you. the procedures and the requirements. based in ndola. boyd banda- 0978238290

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