Indo Zambia Bank was incorporated in October, 1984. It is a joint venture between the Government of the Republic of Zambia and the Government of India represented through its three large public sector banks: Bank of India, Bank of Baroda & Central Bank of India. Each contributing 20% share capital with the remaining 40% contributed by the Government of the Republic of Zambia which is currently held by the Ministry of Finance.
The bank maintains its headquarters in Lusaka, the capital and largest city in Zambia. As of September 2009, it had a network of sixteen branches in various parts of the country. Between 2009 and 2012, it opened six new branches, to bring the total branch network to twenty.