[2] It is a subsidiary of FMBCapital Holdings Plc, a financial services conglomerate, based in Mauritius, whose shares of stock are listed on the Malawi Stock Exchange and has subsidiaries in Botswana, Malawi, Mozambique, Zambia and Zimbabwe.

[4] First Capital Bank Zambia Limited is a subsidiary of FMBcapital Holdings PLC.

It is full-service commercial bank offering financial products and services to all sectors in the Zambian market.

Although the banking business of ICB Malawi was not viable, FMB would be able to enter into the other two countries through the acquisition.

[5] In December 2017, First Capital Bank Zambia became a subsidiary of First Merchant Bank Capital Holdings Plc, of Mauritius, whose shares trade on the Malawi Stock Exchange (MSE), under the symbol: FMBCH[6] In December 2019, First Capital Bank Zambia received a four-year loan worth US$10 million from the Netherlands Development Finance Company (FMO), for onward lending to SMEs in Zambia.