Bank of Zambia closes fourth bank this quarter

- Central Banking Newsdesk
- 30 Nov 2016

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The Bank of Zambia has taken possession of commercial bank Intermarket Banking Corporation after the institution was found to be insolvent and "not able to meet its obligations", the central bank announced on November 29.

The central bank takes control of the institution with immediate effect following an inspection of the institution, Gladys Mposha, director for banking supervision, said in a statement.

The central bank was acting "to safeguard the interest of depositors and preserve the

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