Indo Zambia Bank Ltd. was formed by the Govt. of Republic of Zambia and the Government of India out of the desire to promote banking facilities to support the economic development of Zambia in 1984. Present shareholders are Industrial Development Corporation (40%), Bank of Baroda (20%), Bank of India (20%) and Central Bank of India (20%). Bank has presence in Zambia over 35 years. Currently, the bank has 35 branches and retail outlets spread across all over the country.