FNB Zambia

Name

FNB Zambia

Legal name

First National Bank Zambia Limited

Website

https://fnbzambia.co.zm

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Lending & Credit Disbursements (FSAMAKAH)

akta.pro secondary industries

Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• Commercial banking
• Corporate banking
• Digital banking
• Mobile money payments

Headquarters

HQ city

Lusaka

HQ country

Zambia

HQ region

Africa

Offices22 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income (Interest on Loans & Advances): Interest income earned on the loan portfolio including personal loans, home loans, vehicle finance, and business lending. The bank holds ZMW 1.6bn in newly acquired loans from Standard Chartered's WRB business.
2. Deposit-funded Banking: Interest paid to depositors on savings and current accounts, with the bank leveraging a deposit base of ZMW 5.2bn acquired from Standard Chartered, plus existing customer deposits.
3. Transaction Fees and Commissions: Fees charged on ATM withdrawals, branch transactions, online banking usage, forex transactions, inward and outward telegraphic transfers, guarantees, and import/export services.
4. Bancassurance and Insurance Products: Revenue from short-term insurance, home owners cover, and other insurance products distributed through the bank.
5. Forex Revenue: Revenue from foreign exchange services including forward exchange contracts, foreign notes, and international trading services for corporate and business clients.
6. Merchant Services: Fees earned from POS terminal services and merchant transaction processing for business customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels6 records

Core offering

FNB Zambia is a commercial bank that provides personal, SME, and corporate banking services in Zambia. Its core offerings include transactional and savings accounts, personal/home/vehicle loans, bancassurance and short-term insurance, merchant POS services, foreign exchange and international trade services, and digital banking through online and cellphone channels, distributed via 31 branches, 100+ ATMs, mobile money POS integrations, and Cash Plus agents.

Product overview

FNB Zambia operates as a comprehensive commercial banking platform offering a broad portfolio of personal, business, and corporate banking products. The core banking services include cheque and transactional accounts, digital/online banking, cellphone banking, and lending products (personal loans, home loans, vehicle finance). The deposit and savings suite includes the FNB Group Savings Account, Savings Pocket, 32 Day Interest Plus, Flexi Fixed Account, Fixed Deposit, Call Deposit, and eSavings Account. Insurance products are offered through Bancassurance, Short Term Insurance, and Home Owners Cover. For businesses, the bank provides Business Accounts, Merchant Services (POS terminals), eWallet Bulk Payments, and international trade services (Foreign Exchange, Imports/Exports, Forward Exchange Contracts, Guarantees, Telegraphic Transfers). Digital banking features include eWallet, *inContact*/*inContact* Pro notifications, and Contactless Card payments. The H.E.R sub-brand focuses on women's financial empowerment. FNB Zambia has recently expanded its POS network capabilities through partnerships with MTN MoMo and Airtel Money for mobile money acceptance.

Differentiator

Problem solved

Functional benefit

Brands

• H.E.R: Helping Everywoman Rise - A women's empowerment initiative providing holistic solutions for women in banking.

Products and services

• Personal Banking Accounts (Cheque and Transactional Accounts) Day-to-day banking accounts for individuals including cheque accounts with cheque book facilities, transactional accounts, and the Lifestart Student Account for students.
• Savings and Investment Products Range of savings and investment products for individuals and groups, including FNB Group Savings Account, Savings Pocket, 32 Day Interest Plus, Flexi Fixed Account, Fixed Deposit, Call Deposit, and eSavings Account.
• Personal Loans Unsecured lending product for personal financial needs with fixed repayment terms, available to individual retail customers.
• Home Loans Mortgage financing product for purchasing or refinancing residential property, with associated Home Owners Cover insurance.
• Vehicle Finance Auto loan and financing services for purchasing vehicles, offered to individual and corporate customers.
• Bancassurance and Short-Term Insurance Banking-integrated insurance products including short-term personal and business insurance, Home Owners Cover, and SME insurance distributed through FNB branches.
• Business Accounts Commercial banking accounts designed for businesses of various sizes, including SMEs and corporate clients, with customized pricing.
• Merchant Services (POS Terminals) Payment processing services enabling businesses to accept card and mobile money payments (including MTN MoMo and Airtel Money) through FNB POS terminals.
• Foreign Exchange and International Trade Services Currency exchange, foreign notes, imports/exports, forward exchange contracts, guarantees, structured trade services, and telegraphic transfers for individual and corporate clients.
• Online Banking Internet banking platform enabling customers to manage accounts, conduct transactions, view statements, verify payments, and access banking services online.
• Cellphone Banking Mobile banking service via mobile phone providing transaction access and account management capabilities for customers on the go.
• eWallet and Bulk Payments Digital wallet service allowing customers to store money, send transfers, and make payments via mobile phone, with bulk payment capability for business customers.
• Private Banking Premium private banking and wealth management services for affluent individuals, delivered through dedicated Private Clients branches in Lusaka and Kitwe.
• Cash Plus Agent Banking Authorized agent network extending basic banking transactions and services to communities beyond traditional branch locations.
• H.E.R (Helping Everywoman Rise) Women's Empowerment Programme Women's empowerment initiative providing holistic personal and business banking solutions, mentorship, and lifestyle financial support tailored for women-led businesses and female entrepreneurs.
• MoMo on FNB POS (MTN MoMo mobile money acceptance) Enables MTN Mobile Money payments to be made at FNB POS terminals, expanding cashless payment options for SMEs and consumers and supporting financial inclusion.
• Airtel Money on FNB POS (Mobile Money acceptance) Allows Airtel Money customers to make direct mobile wallet payments at FNB POS terminals nationwide, enhancing financial inclusion and promoting cashless transactions.

Quantifiable outcome

• Acquired ZMW 1.6bn in loans, ZMW 5.2bn in deposits, and ZMW 3.8bn in assets under management from Standard Chartered's WRB business in Zambia.
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

One partnership is on record.

• Standard Chartered Bank ZambiacoreStrategic or Co-development Partner · 1 November 2024FNB Zambia entered into an agreement to acquire Standard Chartered Bank Zambia's Wealth and Retail Banking (WRB) business. The transaction adds ZMW 1.6bn in loans, ZMW 5.2bn in deposits, and ZMW 3.8bn in assets under management. The deal involves client transfer and employee employment transition, subject to regulatory approval. The transaction was announced and signed in late November 2024.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Zanaco (Zambia National Commercial Bank): Zambia's largest domestically-owned commercial bank, offering retail, SME, and corporate banking across a similar branch network. Direct competitor for the same retail, agricultural, and corporate deposit/lending wallet that FNB Zambia targets.
• Standard Chartered Bank Zambia: Global bank operating in Zambia across corporate, institutional, and (until recently) retail banking. Even after selling its WRB business to FNB, retains CIB and priority-banking overlap with FNB Zambia's offerings and FX/trade finance franchise.
• Absa Bank Zambia: Subsidiary of Absa Group (formerly Barclays Africa), providing retail, business, and corporate banking in Zambia. Competes head-to-head with FNB Zambia on digital banking, lending products, and Premier/Wealth segments.
• Stanbic Bank Zambia: Subsidiary of Standard Bank Group, one of Africa's largest banks, with full retail, business, and corporate banking presence in Zambia. Closely comparable on product breadth, parent-group backing, and corporate-banking depth.
• Ecobank Zambia: Pan-African banking group with a Zambian franchise covering retail, SME, and corporate banking. Comparable multi-country parent structure (similar to FirstRand backing FNB) and offers similar trade-finance and FX capabilities.
• United Bank for Africa (UBA) Zambia: Nigerian-headquartered pan-African bank with a growing Zambian franchise serving retail, SME, and corporate clients. Targets similar financial-inclusion and digital-banking segments as FNB Zambia.
• Indo-Zambia Bank: Zambian commercial bank offering retail, business, and trade finance services, including a strong franchise in Lusaka and the Copperbelt. Comparable product mix and SME focus to FNB Zambia.
• KCB Bank Zambia: Subsidiary of Kenya-based KCB Group, offering retail, SME, and corporate banking in Zambia. Regional peer with comparable digital-banking and mobile-money strategy competing for the same financial-inclusion customer base.

Broad incumbents

• First National Bank (South Africa): The South African parent division within FirstRand Group, providing the product platforms, technology, and treasury infrastructure that FNB Zambia leverages. Broad incumbent for the same brand and product family operating at greater scale.

Emerging players

• MTN MoMo: MTN Group's mobile money platform; although currently a partner via FNB's POS integration, MoMo is also a competitor for low-value deposits, P2P payments, and merchant acquiring—an emerging adjacency that increasingly overlaps with traditional banking rails in Zambia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/fnbzambia
• Facebookfacebook.com/FNBZambia
• LinkedInlinkedin.com/company/fnb-zambia

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FNB Zambia