Finance Bank Zambia in the Post Possession Period

The leading financial institution, Finance Bank Zambia, since its inception, has been the major contributor to the economy of the country. Prior to the possession period following the alleged forgery against it, the Finance Bank has brought a wide array of financial plans as well as created a lot of employment opportunity for the deprived class of the society. Although the institution suffered a real setback after the previous government sold it to the First Rand Bank of South Africa, yet Dr. Mahtani got it back in the rightful means. And, no surprise, the Finance Bank again catches the right pace to regain its erstwhile position.

Under the tutelage of Dr. Rajan Lekhraj Mahtani, the Finance bank Zambia regained its position as the leading commercial indigenous Bank of the country. And in due course, the bank recorded a total profit of ZMK 76.033 Billion in the last financial year.

With the accession of the Patriotic Front Government, several decisive measures were undertaken to restore justice. In the first place, the reins of the Finance Bank were handed over to the original shareholders, which could actually safeguard the employment of over eight hundred Zambians. What’s more! This measure has also prevented the cancellation of the proposed sale of the Finance Bank to a foreign bank for just $5 Million. However, Dr. Mahtani single handedly brought back the bank to its erstwhile glory.  Since the hand over, the Bank has reportedly paid the treasury ZMK 19,862 Billion, which is equal to $ 4.053 Million in 2011and ZMK 24.970 Million in 2012. Needless to say, the bank managed to retain its strong position even after the dire effects of possession.  

In the post possession phase, the rightful owners of the Finance Bank, under the leadership of Dr. Mahtani put significant emphasis on restructuring the bank. They embarked from the Management level, in order to ensure that the stabilization process is properly done.

However, the brand managed to retain its financial position, which obviously went a long way to offer the bank its new height. At present, the Finance Bank Zambia has attained the new benchmarks that ensure sustained performance.

 

Dr. Rajan Mahtani- the Guiding Force of the Finance Bank Zambia

If we are to talk about a man, who has always nourished his enthusiastic devotion for the well-being of Zambia, he is certainly Dr. Rajan Mahtani, the chairperson of Finance Bank of Zambia and the renowned businessman of the country. But, in spite of having some prestigious prefixes before his name, what makes him really acceptable to the countrymen is his devotion to work for them. Simultaneously, he is equally successful as a true businessman, a human being with high morality and a pure soul having faith in the Strength of Almighty.

Even after serving the country for over two decades now, under the leadership of Dr. Rajan Mahtani, the premier financial institution had to experience a massive setback, post to the suspected conspiracy of forgery. However, with continuous effort and the employees’ steadfast determination to stick to the truth, has finally made the bank overcome all the dire obstacles it was facing during that time. And, it is worth mention that if somebody has made the major contributions in this process it is Dr. Rajan Mahtani.

Today, the Bank has regained its lost glory as the leading commercial indigenous Bank in the country. Dr. Mahtani, not only helps the Bank recording a strong performance, but also helps generating a profit margin of ZMK 76.033 Billion before paying the tax. After the Patriotic Front Government succeed the to power in October 2011, the new Government has adopted several decisive measure to restore justice and they handed over the financial institution to its original shareholders. Not only does it save the employment of eight hundred Zambians, but also it annulled the anticipated sale of the Bank to a US bank for just $5 Million. However, the bank has to pay ZMK 19,862 Billion ($ 4.053 Million) to the treasury, since its liberation in 2011.

With the true efforts and extreme devotion, Dr. Rajan Mahtani was successful enough to keep the bank’s position strong, even during the ‘possession period’. However, the alleged ‘conspiracy’ by the previous Administration with the help of a number of defaulting borrowers could not finally demean the reputation of the bank and the chairperson Mr. Rajan Mahtani.