ZAMBIA Industrial Commercial Bank Limited (ZICB) has entered into a Purchase and Assumption (PA) Transaction with the Bank of Zambia as part of the resolution of Investrust Bank Plc. Following the closure of Investrust Bank three months ago, the bank has been placed under liquidation as per the Banking and Financial Services Act, 2017 to address remaining issues. According to a statement which announced the PA Transaction, Wednesday, ZICB Acting Chief Executive Officer (CEO) Dr Louis Kabula said customers who had outstanding deposit balances at Investrust Bank Plc would have new accounts opened and would be able to access banking services as new ZICB customers. “Zambia Industrial Commercial Bank Limited (ZICB) has entered into a Purchase and Assumption (PA) Transaction...