Not Losing Interest
Cavmont Bank Ltd’s vision is to be a world class bank rated amongst the best in Zambia with a focus on partnering with all their stakeholders. Following their success in winning the 2016 Banker of the Year Zambia Cavmont Bank Ltd (CBL) is a registered commercial bank in Zambia with more than 50,000 clients and 240 employees. The bank was established on 1st January 2004, following a merger between Cavmont Merchant Bank Ltd, (inc. October 1992) and New Capital Bank Plc., (inc. June 1992).
In 2006, the Bank’s holding company, Cavmont Capital Holdings Zambia Plc (CCHZ), sought a strategic investment partner and identified Capricorn Investment Holdings Limited (CIH). CIH acquired a 44.2% shareholding in CCHZ in 2007.
Discussions held with the Bank of Zambia to find an acceptable manner to recapitalise Cavmont Bank through a rights issue by CCHZ were concluded successfully, with CIH underwriting the rights issue. Consequently, CCHZ raised additional share capital of more than K15.4 billion in 2007 and the repositioning of Cavmont Bank commenced.
Cavmont Bank has 19 branches located in Lusaka (6), Chingola, Ndola, Kitwe (2), Chililabombwe, Mbala, Mpulungu, Solwezi, Chipata, Kasama, Mansa, Mwense and Mufumbwe.
Services Cavmont Bank provides corporate, investment, retail banking and community banking services and the following are the solutions they use quicken transaction for their customers:
Real Time Gross Settlement – RTGS Allows customers with payments of over KR100,000 – K100M to settle funds in real time. It is a fast, same day credit to the payee and risk of funds returning to the sender are eliminated.
DDACC – This is a Direct Debit and Credit Clearing (DDACC) payment system that settles funds directly to the recipients account. For payments in excess of KR50,000 – K50M but less than KR100,000 – K100M, customers are advised to use this service.
Standing Order – Allows you as the customer to agree with the bank to send a specific amount of money from your account to make regular payments on a specified day.
Telegraphic Transfers – Local and international transfer of foreign currency from an account holder to a non-account holder at any of their branches.
Drafts – These cheques are drawn on international correspondent banks and are therefore accepted worldwide. The drafts are issued in the following currencies: US Dollar, South African Rand, Pound Sterling and Euro.
Managers Cheques – These cheques are drawn on Cavmont Bank and are accepted country wide.
Foreign Exchange – The bank offers foreign exchange services with coverage in all the major convertible currencies. Their sales team is available to provide customers with strategies and the best possible solutions to help them make informed decisions. They also offer foreign currency notes to their customers.
Investments – Cavmont Bank offers its customers various investment products that are tailor made to suit their needs. These range from term deposits and fixed deposits to asset backed securities. The treasury team is always available to offer advice to customers on how they can earn a good return on their investment(s).
Government paper – The bank is an agent for the Bank of Zambia for Government Securities. Cavmont is currently one of the few commercial banks that offer the off tender facility for Government Securities.
Financial markets news – Cavmont Bank produces a daily market update which gives their customers an edge on information. The daily newsletter provides current money market and foreign exchange rates as well as major commodity prices.
Cavmont Bank offers the following personal banking products: • Current Account; • Extra Capital Account; • Cavmont Savers Bonus Account and; • Cavmont Bank Savings Account.
What is the Cavmont Bank Current Account? The Cavmont Bank Current Account is a cheque account designed to meet your everyday banking needs, allowing you to manage your finances easily at any time of the day. With the Cavmont Bank Current Account, you will receive a cheque book, free deposit books and free monthly statements. The current account also allows clients access to overdraft and loan facilities.
What is the Cavmont Bank Extra Capital Account? The Extra Capital Account is a cheque account designed for that business individual that is really pressed with time as it has benefits that will make your visit to the branch easier. With the Extra Capital Account, you will receive a cheque book, free deposit books and free monthly statements. This account also allows clients attractive interest rates, access to overdraft and loan facilities.
What is the Cavmont Bank Savers Bonus Account? The Cavmont Bank Savers Bonus Account is a great savings account, which entitles you to four free withdrawals per month, free deposit book and four quarterly statements also for free.
Features and Benefits With the Cavmont Savers Bonus Account the account holder, spouse and up to four children or registered dependants can claim KR2,000 – K2,000,000 in the event of a bereavement. This account also offers account holders competitive interest rates, access to loans as well as KR2,000 – K2,000,000 of funeral cover underwritten by the Zambia State Insurance Corporation (ZISC) for all clients with a balance of KR200 – K200,000 or more.
What is the Cavmont Bank Savings Account? The Cavmont Bank Savings Account is a savings account designed to meet your everyday banking needs, allowing you to manage your savings easily at any time of the day. Cavmont Bank offers two types of savings accounts, Ordinary Savings and Pension Savings which is aimed at pensioners who have attained retirement age and are in receipt of pension funds.
With the Cavmont Bank Savings Account holders receive a competitive interest rate, free quarterly statements, four free withdrawals per month as well as access to loans. For more information on the bank’s wide array of products, feel free to contact them to find out more.
Company: Cavmont Bank Ltd (CBL)
Name: Chilunga Chill Puta
Email: ChilungaChill.Puta -Dunham@cavmont.com.zm
Web: www.cavmont.com.zm
Address: Piziya Office Park, Thabo Mbeki Road, Lusaka 38474, Zambia
Phone: +260 21 136 0105
