New Boss says Finance bank stable after one week of supervision

Finance Bank Zambia Ltd., the country’s largest privately owned lender, said its liquidity and cash positions are “stable” a week after the central bank took control of the company.

There has been “no significant impact” on operations and all branches remain open, Leonard Haynes, the lender’s interim chief executive officer, said in an e-mailed statement today.

The Bank of Zambia took over Finance Bank on Dec. 10 “to protect the interests of depositors and other creditors” and to “ensure the stability” of the country’s banking industry, Finance Bank said.

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