More than half the employees of Finance Bank are in the process of losing jobs due to the sale and merging of the bank with BancABC.
In 2015, Atlas Mara acquired Finance Bank of Zambia and started merging its operations to those of BancABC Zambia.
Though it is proclaimed that once merged, this would be the biggest bank in Zambia in terms of branch network, it has led to job losses.
The process of merging the two banks itself has been painful to workers especially those from Finance bank as they have been subjected to uncertainty and speculations of their employment.
According to workers, it’s like BANCABC employees are viewed as superior and given preference and first priority.
Almost all Finance Bank employees have been told to do aptitude and personality tests online after which they would be interviewed. They have also been directed to submit biographical data. But many have already done the tests and submitted biodata but have not been invited for interviews suggesting that they have lost their jobs.
At the time it was sold, Finance Bank had nearly 600 personnel 34 branches and 16 agencies across the country. In some remote parts of Zambia, only Finance Bank was present.