ZICB pays off over 5000 clients

Thu, 25 Jan 2018 17:52:58 +0000

By MAILESI BANDA 

 THE Zambia Industrial Commercial Bank (ZICB), the successor of Intermarket Banking Corporation has paid off a total of 5,185 customers from the over 10,000 active account holders.

ZICB chief executive officer Ignatius Mwanza announced that the bank had since paid out a total of K 46.3 million at both their Lusaka and Copperbelt office.

He said of the total money paid out K35.5 million was paid out in Lusaka while K7.6 million was paid on the Copperbelt.

Speaking in an interview with the Daily Nation, he said most of the customers had opted to remain with the bank adding that only about 200 customers closed their accounts with the bank.

“Since we commenced the exercise to pay back customers we have managed to pay off 5,185 customers out of the over 10,000 base as some of the customers have opted to continue saving with us,” he said.

He further said some of the customers had been so happy with the repayment system and that the bank’s decision to pay them their deposits increased their level of confidence in the bank.

Mr. Mwanza disclosed that some of the customers had opted to return their deposits with the bank until such a time when the bank would re-open.

He added that the customers had renewed their confidence in the bank.

 He explained that  majority of the customers had not closed their accounts but that they had reduced their deposits adding that this was promising for the future of the bank.

Mr. Mwanza said the bank currently had four major shareholders which he named as the Industrial Development Corporation (IDC), the National Pension Scheme Authority (NAPSA), Madison life and the Workers Compensation Board.

He further disclosed that some individual bank clients had decided to turn their deposits into equity.

Mr. Mwanza expressed optimism that the bank would perform well once opened adding that there was need for Zambians to support the bank as it is 100 percent owned by Zambians.