Indo Bank makes K50m payout
Published On March 28, 2024 » 444 Views» By Times Reporter » Business, Stories
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•INDO Zambia Bank Board Chairperson Michael Gondwe (second right) with Industrial Development Corporation (IDC) Chief Executive Officer Cornwell Muleya (centre) assisted by the bank’s Managing Director Kowdichar Shashidhar (right), Non Executive Director Ngenda Nyambe and General Manager Godwin Ngoma (left) display the K50 million dummy cheque of dividend declared to IDC in Lusaka yesterday. Picture by KETRA KALUNGA

By KETRA KALUNGA –
INDO Zambia Bank (IZB) has declared a K50 million dividend to the Industrial Development Corporation (IDC).
IZB Board Chairperson Michael Gondwe said the board also approved to pay the bank’s shareholders the highest ever dividend in a sum of K125 million for the year ended December 2023.
Dr Gondwe said the bank achieved significant business growth in 2023 with a total interest on advances growing by 19.16 per cent and amounted to K732.91 million as at December 31 2023 compared to 2022.

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