First Alliance Bank Zambia Limited (FABZL), also known as First Alliance Bank (Zambia), is a commercial bank in Zambia. It is licensed by Bank of Zambia, the central bank and national banking regulator.
Location The headquarters and main branch of the bank are located in Alliance House, at 627 Cairo Road, in the city of Lusaka, the capital and largest city of Zambia. The geographical coordinates of the bank's headquarters are: 15°25'25.0"S, 28°16'57.0"E (Latitude:-15.423611; Longitude:28.282500).
Overview FABZL is a small financial services provider in Zambia, providing retail banking services to the communities it serves. Its niche market is the corporate clients in the mining and manufacturing sectors of the Zambian economy. , the bank controlled total assets of ZMW:940,577,000 (US$36.5 million), with shareholders' equity of ZMW:234,359,000 (US$9.1 million). At that time the bank employed 112 people.
History The bank was founded in 1994 by four businessmen, each controlling an equal shareholding position. Starting with one branch in Lusaka, Zambia's capital and largest city, the bank opened branches in other cities and towns in the country, focusing on the copper-belt region of the country.
Ownership The stock of First Alliance Bank Zambia Limited is privately held by five individuals. The table below shows the ownership percentage of each shareholder, as of September 2019:
+ First Alliance Bank Zambia Limited Stock OwnershipRank Name of OwnerPercentage Ownership1Sanmukh R. Patel25.02Daxa Patel25.03Mahendra Patel25.04Vasant Patel24.05Nitesh Patel1.0 Total100.00
Branch network The bank maintains five branches in the country, at the following locations, as of May 2018.
Main Branch: Alliance House, Cairo Road, Lusaka Industrial Branch: 5126 Lumumba Road, Lusaka East Park Branch: East Park Mall, First Floor, Unit D, at the corner of Thabo Mbeki Road and Great East Road, Lusaka Kitwe Branch: 8721 City Gate Office Park, President Avenue, Kitwe Ndola Branch: 16A President Avenue, Ndola.
Governance The Chairman of the seven-person Board of Directors is Sanmukh R. Patel. The Managing Director is Kuldip Paliwal. The chairman is a shareholder in the bank.
See also List of banks in Zambia Bank of Zambia Economy of Zambia
References
External links Website of FABZL Website of Bank of Zambia