Zambia: Cavmont Smells Target

CAVMONT Bank is set to meet the K104-billion statutory minimum capital requirement by the end of this year after raising 60 per cent of the new prescribed minimum capital required by 30 September 2012.

On 30 January 2012, the Bank of Zambia increased the minimum capital requirement for commercial banks to K104 billion for locally owned banks and K520 billion for foreign owned banks and banks in both categories were required to achieve 60 per cent of the new prescribed minimum capital by September 30, 2012.

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