Bank of Zambia (BOZ) Governor Caleb Fundanga says it is
important for commercial banks in the country to operate in a manner that supports growth and development of the country’s economy.
Dr. Fundanga said it was therefore important for commercial banks to lower the cost of banking and offer attractive banking services to the public.
The Central Bank chief said the general cost of banking services in Zambia should be made affordable to the general public.
He was speaking at the foundation laying stone ceremony of the new Stanbic bank offices in the Show grounds in Lusaka.
Dr Fundanga noted that the investment that is being made by Stanbic bank would have a positive impact on the economy due to the evident linkages that infrastructure development has on various sectors of the economy.
He pointed out that the repositioning by the bank is one way of ensuring that there is healthy competition in the banking industry.
Stanbic bank chief executive Ben Kruger said Stanbic is committed to service the people on the African continent.
Mr. Kruger said Stanbic is an African Bank that has a unique understanding of African business.