Indo-Zambia Bank Limited

The bank was founded in 1984 by the Government of Zambia and three state-owned Indian banks: (a) Bank of Baroda (b) Bank of India and (c) Central Bank of India.

Indo-Zambia Bank is a significant employer in the communities it serves and is an active participant in CSR activities across Zambia.

IZB is a medium-sized financial services provider. As of March 2012, the bank controlled total assets of nearly US$309 million. At the time, shareholders' equity in the bank was valued at approximately US$45.4 million.


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.

Zambia State Insurance Corporation

Zambia State Insurance Corporation (ZSIC) is an investment company  incorporated under the Companies Act, Chapter 388 of the Laws of Zambia.

ZSIC offers a diversified range of services including Fund and Asset Management, Investment Advice, Corporate and Project Financing. The company has two wholly owned subsidiaries in the insurance industry, namely ZSIC Life Limited and ZSIC General Insurance Limited.