Zambia National Commercial Bank, commonly referred to by the name Zanaco, was founded in 1969 by the Government of Zambia. 

Prior to 2007, the bank was 100% owned by the government. In that year, 49% of its shares were sold to the Rabobank Group, a banking company from the Netherlands. 

In 2008, the shares of Zanaco were listed on the Lusaka Stock Exchange (LuSE), where they trade under the symbol ZANACO. According to the Bank of Zambia, Zanaco was the most profitable commercial bank in Zambia during the first six months of 2009.