Wednesday, 4 April 2012

NATSAVE records deposits growth of 220billion kwacha in 2011.

As National savings and credit bank (NATSAVE) celebrates it 40years of existence in Zambia the banks deposits have grown to 220billion kwacha, with the loan book recording a growth of about 50billion kwacha has of December 2011.

NATSAVE which has a clientele base of about 110,000customers also recorded a profit of about 4billion kwacha for the financial year of 2011 and has projected to double its growth twice to about 10billion kwacha in 2012.
The bank which has 25branches with 16 in rural area and 12 in the urban area has also projected deposit margins for 2012 of about 300-400billion kwacha as it expands it outlets through out the country.
According to NATSAVE managing director cephas chabu, the bank has procured about 15 automated tailor machines (ATM) at a cost of about 2.5billion kwacha and these are being installed in Lusaka, Kabwe, Kitwe, Livingstone, Luanshya and Ndola to allow customers access their money effectively
Mr. Chabu says the ATM’S will be connected to the ZAM-link network which will create a link with other banks already utilizing the system and this will allow customers to access their money using other banks on the network.
The NATSAVE MANAGING DIRECTOR was speaking at a press briefing this morning held at the head office in Lusaka.
Meanwhile Mr. chabu has disclosed that the bank has partnered with the population council to work together under the project called girls dreams which will run as a pilot programme for one year at a cost of $45,000 and will target about 1000girls.

He says this projects aims to teach girls from the age of 10 to teach them on how to earn money through a dissent way and bring in the aspect of health.

And Mr. Chabu says the bank will continue to a flagship in financial inclusion and continue with the expansion programme it has embarked on especially in rural areas where such services are required.
He says the bank will continue with its focus of saving the rural populace which has about 52percent of population surviving on agriculture adding that it will also continue designs products and services according to customers demand and requirement as it has a vehicle to do so

No comments:

Post a Comment