Business

AB Bank boosts deposits

NANCY SIAME, Lusaka
AB BANK Zambia has made strides in deposits amounting to K40 million as at end of October, after its four years presence in the country.
Bank public relations officer Martin Sikweti said the past few months have been an exciting and progressive time for AB Bank Zambia, which opened its sixth branch in Lusaka’s Garden Township last month.
Mr Sikweti said reaching K40 million in deposits is an achievement given that the average size of a savings account at the bank is just above K600.
“AB Bank Zambia has achieved a significant milestone of K40 million in deposits at the end of October and we are very proud,” he said.
He said this shows that the steps AB Bank Zambia has taken to bring the bank closer to its customers in the communities while offering professional, reliable banking services, micro and small and medium enterprises loans are paying off well.
“Part of the bank’s growth strategy is to take its place as a leading player in the Zambian banking sector irrespective of the economic situation,” Mr Sikweti said.
Mr Sikweti said the bank is focused on helping people prosper, starting from the smallest savings amounts as well as offering attractive rates on large fixed deposits.
He said the bank will open a branch in Kitwe before the end of the year to extend its Mahala (free) banking services, which offers free and no minimum balances and business loans.
“With the bank having surpassed over 58,000 client accounts recently, we are about to open our first Copperbelt branch and we will extend our now famous Mahala free banking services to the people,” Mr Sikweti said.

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