Zanaco Bank Plc says it is targeting to end the year with about 5 percent ratio of Non-Performing Loans.
And the commercial bank says it wants to be a top transaction bank by 2020.
Zanaco Bank Plc Chief Executive Officer Henk Mulder says the bank’s Non-Performing Loan ratio beginning of the year 2018 was at 26% and that by the end of the year it was 9.6%.
Mr. Mulder says the bank had challenges between 2015 and 2016 as Non-Performing Loans ratio was high.
The Zanaco Bank Plc Chief Executive Officer said this during a Financial Literacy Seminar for Media Personnel in Lusaka.
He said the bank will not give loans to clients who cannot service the loans saying this will reduce on the rate of Non-Performing Loans.
And Mr. Mulder says the bank has over the years invested in building personnel and business financial management skills for various segments of society reaching over 100, 000 people.
“Personal Financial Management is one of the key factors in individual and household growth. However, most individuals may not have had a privilege to learn how to manage their finances as young people. Some leant through trial and error after getting their salaries,” he said.
He said as the bank strives to drive financial inclusion in the country, they want to go beyond statistics and realize that behind every statistic is a human being with needs and financial requirements.
“However, unless we all have the right financial information and skills, we may not achieve our intended levels of growth,” said Mr. Mulder.

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