The Finance Bank of Zambia has finally reached its goal of getting listed on the Lusaka Stock Exchange. The Chairman of Finance Bank, Dr. Rajan Mahtani is extremely pleased with the present affairs and his dream of calling FBZ as ‘Finance Bank Zambia Plc’ has finally come true. The year 2015 has come with a note of success and prosperity for the people of Zambia and Dr. Mahtani.
In September 2014, Dr. Rajan Mahtani had converted his bank into a public limited company because he wanted to start share trading operations of FBZ on the Lusaka Stock Exchange. Given the economy of Zambia, Dr. Mahtani found it feasible to list his bank on the Stock Exchange to enhance its credibility and status. The word ‘Plc’ at the end of a name represents stability, trust and experience for an organization and FBZ possessed all of these. Recent news from Dr. Mahtani suggests that most of the formalities in such respect is almost over and the bank will commence its share trade operations from the first quarter of 2015.
The Securities Exchange Commission (SEC) is playing the key role of granting FBZ the permission to start its share trade. At the present date, the total capital base of FBZ Plc is about K2.4 billion along with K 1.4 million as its loan book size. Dr. Rajan Mahtani is overwhelmed with the current proceedings and also intends to apply to the Alternative Investment Market (AIM) of the London’s Stock Exchange.