First national bank Zambia limited under the parent of first rand south Africa which recently took over 96percent of finance bank Zambia limited at a cost price of 27billion kwacha plans to spend approximately 200billion kwacha over the next 2 years to integrate the bank and upgrade the branches.
in order to take on the selected assets of finance bank, as well as its 34 branches and 16 agencies, bank will need to inject more capital into fnb Zambia to also upgrade the banks agency, atm networks, and roll out new products and services.
fnb Zambia limited chief executive officer, sarel van zyl says the bank is very positive about the market prospects of Zambia especially with the combination of the footprint of finance bank with the new and innovative products and customer service channels such as online banking and cell phone banking of fnb.
The fnb Zambia limited chief executive officer says currently the bank has 6 branches and 20 atms but has approval from the board to open another 2 branches before December of this year and install another 15 atms over the short term.
He has pointed out that the projects have already commenced to meet the deadline and the banks original business plan is to open at least 3 branches per annum until we have branch representation in all 9 provinces in Zambia.
Mr. van zyl has stated that the bank believes that it will be able to contribute towards the vision of the bank of Zambia (boz), which is to take banking to the under- and un-banked communities of Zambia.
and Mr. van zyl has noted that good, healthy competition helps banks to be creative in finding the best solutions for customer needs adding that fnb has been operating in south Africa for more than 170 years, and has operations in 7 other countries outside of south Africa.
He says the bank has a wealth of experience in banking in Africa, and is well positioned to enrich the banking sector in Zambia with a new level of competitiveness and service delivery that will benefit Zambians and Zambia as a whole.
meanwhile Mr. van zyl gas disclosed that fnb Zambia has offered all staff members of finance bank employment at substantially the same or better terms as what they currently enjoy and the details of the offer is currently being discussed with the union, where after we will be in a position to share the details with all stakeholders.
He has stressed that the size of the workforce will be determined by the size of the business at any given time and fNB has proven capacity planning models, which are used to determine staff structures and numbers.Mr. van zyl who was responding to a press query from radio phoenix, says at the moment FNB’S attention is to grow the business aggressively over the next few years, and as the bank reaches the growth targets, its requirements for staff will be adjusted accordingly