By HELEN ZULU –
FIRST National Bank (FNB) Zambia Limited has been assigned an issuer corporate credit rating of  A-Positive by the Credit Rating Agency Limited (CRA).
The A-positive rating is classified as a strong rating by CRA which shows that FNB has demonstrated strong franchise value and consistently improving market share in the  Zambian economy.
CRA chief executive officer Wilson Kalumba said the assignment of the corporate credit rating denoted FNB’s strong credit-worthiness, which spoke to its ability and propensity to settle all debts and financial
obligations as they fell due.
Mr Kalumba said the A-positive rating reflected the bank’s stand-alone financial strength and reliable support structure in terms of financial and operational support provided by its major shareholder, the FirstRand Group of South Africa.
He was speaking during the presentation of the credit rating certificate to FNB in Lusaka.
FNB Zambia has demonstrated strong franchise value and a consistently improving market share in the Zambian economy that is why it has been rated A-positive,” Mr Kalumba said.
FNB Zambia chief financial officer Ackim Chalwe said the A-positive rating was an affirmation of the success of the bank’s growth strategy over the past five years.
Mr Chalwe said FNB Zambia posted the most sustained growth in balance sheet size of all the 19 commercial banks operating in Zambia.
“For our customers and partners, it is an assurance that in spite of the challenging economy and fiscal environment in the country, your funds are in safe hands and that your belief in us is not misplaced,” he said.
And FNB has launched a business banking application which is aimed at promoting financial inclusion among the unbanked community in the country.
The FNB Business App will allow the bank’s business customers to authorise transactions, make payments and transfers, do collections, view account balances and transaction history on mobile smart phones.
FNB Zambia head of business banking Yokonia Ngoma said the App would increase the customer’s efficiency in the highly competitive business market.