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First Capital Bank Zambia rebrands

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First Capital Bank Zambia has with effect from today adopted a new brand identity to align with all the entities that are part of the First Merchant Bank Group.

This forms part of the launch of a new and cohesive brand identity for FMBcapital Holding PLC’s banking operation in Botswana, Mozambique, Zimbabwe, Malawi and Zambia.

The rebrand will see the group’s branches in all five of its markets being renamed as First Capital Bank, with a uniform logo being adopted.

The change will, however, not affect any of the bank’s existing products and services.

Founder and chairman of First Capital Bank, Hitesh Anadkat, says the bank’s regional network puts it in a perfect position to continue to partner with clients as they expand their own businesses into new markets.

“Our group already consists of a unified team offering integrated services across five markets,”  Anadkat said in a statement availed to Zambian Eye. “Now the single First Capital Bank name and brand will reflect this. Our regional reach not only means that clients can transact across the border with ease, but also that their relationship with the bank extends into new markets in terms of financing decisions.”

Founded in Malawi in 1995 under the name First Merchant Bank, the bank has grown to become a nimble regional banking group offering a comprehensive range of business and personal products. The group currently employs over 1,800 staff who service a client base of nearly 840,000.

“Over the past two decades, we have seen Southern Africa begin to realize its enormous potential with businesses pursuing growth both domestically and regionally. This has meant that we also have to continuously improve and expand our service and product offering to continue to partner with them effectively,” says Anadkat.

Last year, the group acquired a majority shareholding in the holding company of Barclays bank of Zimbabwe and as per the transition arrangement, the bank will migrate from the Barclays PLC brand to a co-brand for two years. The Zimbabwe operation will be rebranded as First Capital Bank in association with Barclays.”

First Capital Bank is one of the fastest growing banks in Zambia, with close to 8,000 customers and holds a total of K1.2 billion in assets on its balance sheet. FCB Zambia CEO Sachin Nigam (pictured) says the bank’s new image will reinforce its operations and strengthen its focus on the needs of its local clients.

“Today is a very important day for us. It’s a big day in our journey, in our evolution. I’m really excited to announce that we’ve been going through a rebranding process and today we’re launching our new brand.

“We will retain our focus on relationships as we support our clients to help them grow and expand, as we continue to grow our own business,” Nigam told Zambian Eye in an interview, explaining that First Capital Bank has continued to invest in expanding its branches, products and services and had recently increased its geographical presence by opening a branch in Kitwe.

Nigam says the spirit of First Capital Bank is also reflected in its new motto ‘Belief Comes First’.
“Belief came first for us when the bank was founded. Our knowledge, experience and expertise were crucial but above all, it was belief that propelled us forward. Belief in our vision for our business, belief in our clients and belief in the potential of our continent.”

First Capital Bank has become one of Zambia’s fastest growing banks in a short space of time. According to the bank’s audited financials for the year 2017, it is of the country’s top ten banks in terms of profitability.

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Start: 2019-07-01 End: 2019-07-31