Business

‘Investrust Bank financially sound’

KABANDA CHULU, Lusaka
INVESTRUST Bank Plc chairman Jacob Mwanza says the institution is financially sound and strongly capitalised as can be seen in the introduction of innovative products such as the ‘InvestGO pre-paid VISA card’ that will enable customers and non-customers to access various services across the world.
And Bank of Zambia (BoZ) senior director policy supervision Chisha Mwanakatwe has urged banks to put in place measures to handle customer complaints that have continued to arise due to innovation and usage of electronic banking platforms.
Officially launching the unique pre-paid VISA card on Friday night, Dr Mwanza said the 20 years of existence is a demonstration of the bank’s commitment to the Zambian economy.
The Lusaka Stock Exchange-listed bank has 27 branches, three agencies and over 60 automated teller machines.
“We now have over 100,000 customers and the customer base keeps growing. Our strong banking offering makes us competitive and we aim to be the bank of choice for many, given this capability.
“Last December, we closed a capital raising programme of K100 million, which has seen our capital position to improve significantly to enable the bank respond positively to the needs of clients,” Dr Mwanza said.
He said the InvestGO card is available to both customers and non-customers and allow cash withdrawals locally and internationally.
“The card can be preloaded with any amount up to K50,000, and it is ideal for employees’ imprest, for students to pay fees and upkeep, to regular travellers and for salary payments to those not having accounts,” Dr Mwanza said.
Launching the product, Mr Mwanakatwe said Investrust should be commended for the product that will promote a cash-light society.
He said the development shows the bank’s responsiveness to financial inclusion and deepening.
“As a regulator, we also want to see customer protection due to innovation. Many complaints have been submitted to us, so we urge banks to ensure innovation doesn’t affect consumers,” he said.



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