State owned ZCCM IH has increased its shareholding in Investrust Bank Plc from 45.4% to 71.4%.
This follows the announcement of the mandatory offer by ZCCM-IH to the minority shareholders of Investrust issued on 21st March 2018.
The mandatory offer by ZCCM-IH which opened on 9th April 2018 and closed on Monday, 30th April 2018 recorded a total of 2,125,890 shares tendered for sale to ZCCM-IH.
This level of acceptance represented 26.0% of the total shareholding in the Bank.
According to a notice from the Lusaka Securities Exchange, the ZCCM-IH Board acknowledges the overwhelming success of the mandatory offer and looks forward to better prospects for Investrust.
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Does it mean the services of this miserable bank are going to improve? The poor customer service, the long lines ( I almost fainted one day), the never-working ATMs, the lost ATM pin that you had applied for three months earlier and so on. Am shopping for another bank. Never open an account here if you know what’s good for you.
People still queue in banks when an ATM can do 70% of the requests.
This bank started going down the moment zulu took over and kicked out Ndlovu!
@1.1 jay jay the reasons for people queuing up are the NEVER-WORKING ATMs and the lack of staffing. Sometimes a branch can just have two Tellers working.
Is the mechanism to comply with BOZ requirements of minimum reserves, last week it announced investrust was 54Million short of required amount… if a bank doesnt comply, have enough reserves, then how can it trade..
What’s the whole idea behind this buying of shares …why is ZCCM IH increased in this bank?
But why is investrust Bank putting people who has not defaulted on CRB. Can some one explain? Because this will ultimately have legal repercussions on them. This a serious matter which must be addressed as soon as possible.