Best bank: Zambia National Commercial Bank
Zambia National Commercial Bank (Zanaco) is again Euromoney’s best bank in Zambia. Profit before tax increased 44% year on year to KK1.74 billion ($65 million), including a 109% boost in the third quarter driven by income earned on government securities, trading and an uptick in net fees and commission.
The bank introduced an auto loans facility during the year, together with mortgage facilities for outright purchase and remortgaging, as well as construction and salary-advance loans.
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