Absa Bank Zambia

The headquarters and main branch of Absa Bank of Zambia are located at 4643 and 4644 Elunda Office Park, Addis Ababa Round About, in the city of Lusaka, Zambia's capital city. The geographical coordinates of the bank's headquarters are: {{coord|15|24|49.0|S|28|18|11.0|E|}}{{google maps|url=https://www.google.com/maps/place/15%C2%B024'49.0%22S+28%C2%B018'11.0%22E/@-15.4137377,28.3028328,60m/data=!3m1!1e3!4m5!3m4!1s0x0:0x0!8m2!3d-15.4136111!4d28.3030556 |access-date=30 April 2018 |title=Location of the Headquarters of Absa Bank Zambia Limited}}

The bank is a large financial institution in Zambia. The institution serves the banking needs of large corporations, small and medium sized enterprises, individuals and government departments. As of 31 December 2020, the bank's total assets were valued at ZMW:18.558 billion (US$732.86 million), with shareholders' equity of ZMW:1,210,490,000 (US$47.93 million).{{cite web| date=4 April 2021 |

url=https://www.absa.co.zm/content/dam/zambia/absa/pdf/reports/2020-annual-report.pdf |title=Absa Bank Zambia Annual Report for the Year Ended 31 December 2020 |work=Absa Bank Zambia Limited |

access-date=19 April 2024 |location=Lusaka, Zamia}} As of December 2020, the bank employed 792 people in Zambia.

According to its website, Barclays Bank has been present in Zambia since 1918. However, the bank was licensed in its present form in 1974. The bank is a member of the Absa Group Limited, which was a subsidiary of Barclays Bank Plc., until June 2017, when Barclays Plc decided to sell down its shares in the group.{{cite web| url=https://www.reuters.com/article/us-barclays-africa-idUSKBN18S3Z2 |title=Barclays makes early African exit with $2.8 billion share sale |access-date=30 April 2018 |date=1 June 2017 |author1=Anjuli Davies | author2=Tiisetso Motsoeneng

|publisher=Reuters}} In March 2018, Barclays Africa Group made a decision to re-brand to Absa Group Limited.{{cite web |access-date=30 April 2018 |url=https://tumfweko.com/2018/03/02/barclays-africa-group-rebrands-to-absa-group-ltd/ |title=Barclays Africa Group Rebrands to Absa Group Limited |date=2 March 2018 |publisher=Tumufweko.com |location=Lusaka |archive-date=1 May 2018 |archive-url=https://web.archive.org/web/20180501093951/https://tumfweko.com/2018/03/02/barclays-africa-group-rebrands-to-absa-group-ltd/ |url-status=dead }}

In 2016, Barclays Bank Plc, owned 62.3 percent of Barclays Africa Group (BAG). At that time BAG was the parent company of Barclays Bank of Zambia. Barclays decided to divest its majority shareholding in BAG, worth £3.5 billion then.{{cite web|date=26 February 2016 |access-date=11 February 2020 | url=https://www.ft.com/content/01d64502-dca4-11e5-827d-4dfbe0213e07 |title=Barclays set to exit African business

|newspaper=The Financial Times |author1=Martin Arnold |author2=Patrick Jenkins |location=London}} In December 2017, Barclays reduced its shareholding in BAG to 14.9 percent.{{cite web | title=Barclays to further reduce stake in Barclays Africa |url=https://www.fin24.com/Companies/Financial-Services/barclays-to-further-reduce-stake-in-barclays-africa-20171201 | publisher=Fin24.com |date=1 December 2017 |author=Jan Cronje |access-date=11 February 2020 |place=Cape Town}}

Following those events, BAG re-branded to Absa Group Limited in 2018. Under the terms of that re-brand, Absa had until June 2020 to change the names of its subsidiaries in 12 African countries.{{cite web|work=Business Daily Africa |url=https://www.businessdailyafrica.com/corporate/companies/Barclays-Africa-officially-rebrands-to-Absa/4003102-4657806-c99e5u/index.html |title=Barclays Africa returns to its SA roots with rebrand |date=11 July 2018 |access-date=11 February 2020 | agency=Reuters}}

In Zambia, the re-brand concluded on 10 February 2020, when both the bank's legal and business names became Absa Bank Zambia Plc.{{cite web| work=Lusaka Times | url=https://www.lusakatimes.com/2020/02/10/barclays-bank-zambia-plc-officially-becomes-absa-bank-zambia-plc/ |title=Barclays Bank Zambia PLC officially becomes Absa Bank Zambia PLC |date=10 February 2020 |author=Lusaka Times |access-date=12 February 2020}}{{cite web|date=16 February 2018 |access-date=5 February 2022 | url=https://zamcash.com.ng/lupiya-loans-for-civil-servants/ |title=Lupiya Loans for Civil Servants |author1=Adekunle |location=Zambia}}

{{asof|May 2020|}}, the bank maintained a network of over 47 branches.{{cite web|title=List of Absa branches in Zambia|url=https://thebranchlocator.com/absa-branches-zambia/|last=|first=|date=March 18, 2020|website=Absa|publisher=|location=Lusaka|url-status=live|archive-url=https://web.archive.org/web/20200630165920/https://thebranchlocator.com/absa-branches-zambia/ |archive-date=2020-06-30 |access-date=29 May 2020}}

The Ag. Chairman of the Board of Directors of Absa Bank Zambia, is Newton Barton Young. Mizinga Melu, serves as the Managing Director of the bank.

{{Portal|Banks}}

{{columns-list|colwidth=30em|

• Economy of Zambia
• List of banks in Zambia
• List of banks in Africa
• Bank of Zambia
• Absa Group Limited

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{{reflist}}

• [https://www.absa.co.zm/personal/ Website of Absa Bank Zambia]
• [http://www.boz.zm/ Website of Bank of Zambia] {{Webarchive|url=https://web.archive.org/web/20100621132055/http://www.boz.zm/ |date=2010-06-21 }}

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Category:Banks of Zambia

Category:Absa Group Limited

Category:Companies based in Lusaka

Category:Banks established in 1918

Category:1918 establishments in Northern Rhodesia