Frequently Asked Questions
To be the preferred Bank in our chosen segments supporting commercialisation, industrialisation and growth of our customers.
Frequently Asked Questions
To be the preferred Bank in our chosen segments supporting commercialisation, industrialisation and growth of our customers.
Frequently Asked Questions
Zambia Industrial Commercial Bank Limited (ZICB) is a new Bank that was incorporated on the 31st of August 2017.
No. The bank was created as part of the Restructuring Plan of Bank of Zambia for Intermarket Banking Corporation Limited (IBC) (In Possession), which was possessed by the Bank of Zambia in November 2016.
Therefore, ZICB is a separate legal entity. Intermarket Banking Corporation Limited (In Possession) continues to exist under possession by the Bank of Zambia.
- Industrial Development Corporation Limited
- National Pension Scheme Authority
- Workers Compensation Fund Control Board
- Madison Financial Services Limited
Yes. We will introduce new products and services to meet the needs of our customers.
Individual accounts will earn interest based on whether or not the new account is interest bearing. However, interest will only start to accrue from the date ZICB starts to operate.
No, ZICB was not operational during that period.
Yes, up to the K200,000 threshold that was approved by the Bank of Zambia.
Balances above the K200,000 allowed during the pay-out will be placed in Fixed Deposit accounts to mature 12 months from the date ZICB opens to the public for operation (36 months for Corporate accounts).
Balances below K200,000 that were eligible for pay-out but were not withdrawn will be placed in an account that closely matches the previous account and will remain available for withdrawal if the customer still wishes to withdraw it.
Please note that only current accounts will be opened, and customers will have to apply for savings and fixed deposit accounts after the Bank has opened for business.
The Bank was officially launched on the 28th of October, 2018.
No. New cheque books will be issued under ZICB.
Some branch officers will be retained in line with the needs of ZICB.
Account numbers will change, and old account types will be the closest match with the new account types that will be introduced.
Visit your nearest Branch to learn more about our products offering.
ZICB currently has 2 branches, that is;
- Lusaka Main Branch
- Kitwe Branch
ZICB is part owned by government under the Industrial Development Corporation (IDC) and has other financially strong shareholders. The bank therefore has a very strong balance sheet and has recruited an experienced management team. (Refer to shareholding details above).
Yes. However, applicable Terms & Conditions will apply.
Lusaka : +260 211 233 707
Kitwe : +260 212 222 031
