FDH holdings Limited bought the shares that were owned by South African investors after the local authorities disqualified them from running a commercial bank.
Speaking in an interview with MIJ FM, FDH bankâ€™s chairperson Thomson Mpinganjira said the shareholding issue was finalized last year and it will not affect the bankâ€™s operations.
Mpinganjira however said the development will mean the bank is now owned by locals which will have a positive impact to the development of the country.
Mean while Mpinganjira disclosed the share holdersâ€™ injection of 4.8 million USD -about 10 billion kwacha to FDH bank in form of capital.
Shareholders invested such amount in compliance to the reserve bankâ€™s Basel 2 standards- principles outlined to make commercial banks more secure by having in deposit, extra funds to cushion its activities in time of crisis.
â€śThe investment follows this animal called Basel 2 which has seen all commercial banks wanting in terms of capital requirements and we are delighted to have been complied.
â€śAlmost all commercial banks have been working to comply with this requirement and as FDH Bank, we werenâ€™t late.â€ť said Mpinganjira.
Mpinganjira, a successful business man, however described this requirement as not a burden to banks, saying the funds are meant for risk management.
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