4 May 2011
Finance Bank Zambia is ready for a take-over after reaching the basic benchmarks to get a new buyer.
Finance Bank executive director corporate banking and marketing Warwick Brooker said his bank, despite all the trouble it went through late last year, was in good stead and was ready for new heights once a new buyer takes over.
Mr Brooker said a Due Diligence (investigation or audit of a potential investment) had been done and was preparing an offer to the Bank of Zambia to purchase assets and assume liabilities of Finance Bank.
He said Deloitt’s of London had completed information gathering process and was presently formulating its advise principals to the Bank of Zambia.
“I can report that Finance bank is in good health. The due diligence by the interested party and information gathering process by Deloitt of London will result in a formal purchase offer to the Bank of Zambia,” he said.
He said the bank’s commitment to Zambia including rural clients was deep as witnessed when last week it launched a refurbished branch in Mpika District.
On the refurbished Mpika branch, Northern Province Minister John Chinyanta hailed the bank for steering through a difficult period.
The ministerdescribed the refurbishing of the Mpika branch as a testament of the commitment the Bank had not just to the urban areas, but to rural Zambia as well.
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FBZ Take-Over Game