Intermarket Bank was a commercial bank in Zambia. The bank is one of the commercial banks licensed by the Bank of Zambia, the national banking regulator.[1]
History
In March 2010, at the direction of the Bank of Zambia, Afriland First Bank Group, based in Yaoundé, Cameroon, acquired 80% shareholding in Intermarket Bank, for an undisclosed sum of money. Sabre Capital, the former majority shareholder in Intermarket Bank retained 20% ownership. Afriland also took 80% shareholding in Intermarket Securities, which is 100% owned by Intermarket Bank. The new majority owners will keep the Intermarket brand until 2013 when they will switch to the Afriland brand.[2] with liabilities over the assets, it became potentially difficult for the bank to honour its financial obligations.
Ownership
, the bank's stock was owned by the following corporate entities: [3]