The headquarters and main branch of Access Bank Zambia are located at 632 Cairo Road, in the city Lusaka, the capital city of Zambia.[2] The geographical coordinates of the headquarters of Access Bank Zambia are: 15°24'43.0"S, 28°16'49.0"E (Latitude:-15.411944; Longitude:28.280278).[3]
The bank is a medium-sized retail bank, serving the needs of Zambian companies, small and medium sized enterprises and individuals. As of December 2022[update] Access Bank Zambia had assets valued at ZMW:5,869,391,000 (approximately US$528.24 million), with shareholders equity of ZMW:962.87 million (US$86.66 million).[4]
The bank, which was established on the 24th of September 2008, is a subsidiary of Access Bank Group, an international bank that maintains headquartersinNigeria and has subsidiaries in eight countries in Africa one country in Western Europe.[5]
By virtue of its shareholding, Access Bank Zambia is a member of the Access Bank Group, a financial services conglomerate, whose shares are listed on the Nigerian Stock Exchange and whose total asset valuation exceeded US$18.82 billion (NGN:7.28 trillion), as of June 2020.[6]
In August 2020 Access Bank Zambia entered into a binding commitment to acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank, another Zambian commercial bank. The transaction, which requires regulatory and shareholder approval, is expected to close in Q4 of 2020.[9][10]
In October 2021, Access Bank Zambia signed binding agreements to merge with Atlas Mara Bank Zambia Limited. The transaction which requires regulatory approval in Nigeria and Zambia, is expected to conclude in 2022. The merger of Access Bank Zambia and Cavmont Bank was concluded in 2000.[11]
It is anticipated that when the merger with Atlas Mara Bank Zambia is concluded, Access Bank Zambia's total assets will exceed US$1 billion, with over 300,000 customer accounts and 70 branches and baking agencies.[12]
^Access Bank Zambia (30 April 2018). "About Us: Our History". Lusaka: Access Bank Zambia. Archived from the original(Archived from the original on 30 April 2018) on 30 April 2018. Retrieved 1 September 2020.
ZMW:62,955,000 (US$5.667 million) (Q4:2022)
