ZICB takes over Investrust Bank’s customers, assets
Published On July 10, 2024 » 392 Views» By Times Reporter » Business, Stories
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By ANDREW MULENGA –
THE Zambia Industrial Commercial Bank (ZICB) will from July 15, 2024 take-over all customers with outstanding deposit balances at Investrust Bank Plc as well as some of the insolvent Bank’s assets.
This follows a Purchase and Assumption (P&A) transaction between ZICB and the Bank of Zambia (BoZ) which is pursuant to section 73 of the Banking and Financial Services (BFS) Amendment Act of 2020.

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