About Us


To act as a catalyst for the economic development of Zambia


To become the bank of choice for all retail and corporate customers

Brand Promise

Supporting you. Developing Zambia


Indo Zambia Bank was incorporated in October, 1984 as a joint venture Bank between the Government of the Republic of Zambia and the Government of India represented through its three large Public Sector Banks: Bank of India, Bank of Baroda and Central Bank of India, each contributing 20% share capital with the remaining 40% contributed by Government of the Republic of Zambia which is currently held by the Ministry of Finance and National Planning.

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The Bank opened its door to the public for the first time on 24th December, 1984. The support of two Governments has also imparted good strength to the joint venture. The Bank enjoys tremendous customer confidence and is considered one of the most secure and customer friendly Banks in Zambia.

In an intensively competitive banking industry, Indo-Zambia Bank Ltd has made several significant contributions to the Zambian economy. The Bank is truly acting as a catalyst for the economic development of Zambia consistent with its founding principles and mission. The bank has designed innovative schemes and products that cater to the requirements of all sections of the Zambian economy/ society whether it is Agriculture, Mining, Tourism, Trade, Manufacturing, SME, Real Estate etc.

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Board of Directors

Our Board of Directors comprises of experienced professionals with decades of experience and excellence in the Banking and Financial sectors.

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Mrs. O. Y. Moyo , Board Chairperson Mrs. O. Y. Moyo , Board Chairperson

Mrs. O. Y. Moyo has taken over as the Board Chairperson of Indo Zambia Bank with effect from February, 2002. Mrs. Moyo is a Bachelor of Arts from University of Zambia and Diploma holder in banking from Manchestor Business School, U.K. Mrs. Moyo has over 30 years of rich experience in Banking and Financial sector. She is also a Fund Manager - National Housing Board, Chairperson - People Act Foundation and Director on Alexander Forbes, National Housing Bonds Trusts and other organisations.

Mr. Deepak Malik, DirectorMr. Deepak Malik, Director

Mr. Deepak Malik has been the Director of Indo Zambia Bank since August, 1999. He is a qualified Chartered Accountant with 30 years experience, covering Financial and General Management, Private Equity, Audit, Development Banking and Industry. Deepak Malik is also a Regional Director in Africa for Norfund, based in South Africa. He has over 20 years experience in Africa and is on the Board of Directors of various companies, including financial institutions and private equity funds.

Mr. M. V. Tanksale, DirectorMr. M. V. Tanksale, Director

Mr. M V Tanksale has been the Director of Indo Zambia Bank since July, 2011. Mr. Tanksale is backed by professional credentials like Associate Member of the the Institute of Cost and Works Accountants of India (AICWA); Company Secretary (inter) of the Institute of Company Secretaries of India, CAIIB, B.Sc and Masters in English Literature. He is presently the Chairman and Managing Director of Central Bank of India with rich experience covering more than 36 years, he has held several important positions in public sector banks in India. He is also on the Board of Directors of various subsidieries of Central Bank of India and other Financial Institutions.

Mr. P. Srinivas, DirectorMr. P. Srinivas, Director

Shri P. Srinivas, started his banking career with Andhra Bank in November, 1978. Having worked in various capacities as Chairman of Rushikulya Gramya Bank, Zonal Manager, Warangal, New Delhi and as General Manager in charge of Department of Information Technology, Operations, Accounts, Credit Card, he has rich experience of over 33 years in Banking.

He was also instrumental in the migration of all the branches of Andhra Bank to Core Banking Solution (CBS). He holds a Bachelor’s Degree in Engineering with distinction from College of Engineering, Visakhapatnam, Andhra Pradesh. He also holds a Post Graduate Diploma in Human Resources (HR) from IGNOU. He has attended several Management Training Programmes at IIM Ahmedabad, IIM Bangalore and also at Asian Institute of Management, Manila.

Smt. V.R. Iyer, DirectorMrs. V.R. Iyer, Director

Mrs. V. R. Iyer took over as Chairperson & Managing Director of Bank of India w.e.f. 5th November, 2012. Prior to this assignment, Mrs. Iyer was Executive Director of Central Bank of India from Sept 01, 2010 till she joined Bank of India.

Mrs. Iyer, post-graduate in Commerce with CAIIB, started her career in Union Bank of India in 1975. Mrs. Iyer, in her career span of 33 years, had good stint in branch banking having worked in very large and extra large branches. She has extensive exposure in Credit Department, Credit Monitoring Department and contributed significantly in setting up of Risk Management Department, rolling out CBS, alternate channels and various other e-initiatives.

Mr. Samuel Mukupa, DirectorMr. Samuel Mukupa, Director

Mr. Samuel Mukupa, a qualified Teacher/ Lecturer by profession was appointed as a Director on the Board of Indo Zambia Bank on 17th February 2012. He has served as a Member of Parliament from 1991-2000. During his tenure as a legislature he served as an Executive Member of the Commonwealth Parliamentary Association/Union from 1998 to 2000. In 1998 he was appointed Head of Parliamentary Delegation, Election Observer Mission to Germany. Mr Mukupa is also an illustrious businessman.

Mr. Shankardas Gupta, Managing DirectorMr. Shankardas Gupta, Managing Director

Mr. Shankardas Gupta has taken over as the Managing Director of Indo Zambia Bank since May, 2012. He holds a Master degree in English, Certificate in Management of Banking & Finance, Advanced Diploma in Management and Diploma in Finance Management. He is also a Certified Associate of Indian Institute of Bankers(CAIIB). He has held several distinguished positions in Bank of India in India with a career spanning 29 years which includes international experience of working as Assistant Vice President at the Bank's office in San Fransisco, USA for 4 years.

Mr. G. C. Ngoma,  Board Secretary & General ManagerMr. G. C. Ngoma, Board Secretary & General Manager

Mr. G C Ngoma has taken over as the General Manager of Indo Zambia Bank since April, 2011. He holds a Master of Business Administration, BBA and Diploma in HRM degrees. He had held several positions in the Bank’s hierarchy in a career spanning 20 years in the areas of General Banking, Administration and Services, Marketing and Public Relations.

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Indicative Forex Rates

Wednesday April 16 2014

  • The above rates are indicative and subject to change without notice. Please call +260 211 228245 / +260 211 220348