It is true saying that reputation once lost is lost. If an individual is wrongly charged with theft once, then the person will always be seen as theft even after proved innocent. Such is the power of bad reputation. Finance Bank Zambia was founded by Dr. Rajan Mahtani with the objective of helping the people of Zambia and uplifting the communities. For this, the bank established various initiatives such as easy loan and financing options for the underprivileged, helping the poor by providing employment opportunities and participating in various social and environmental activities. The bank has received many awards for its achievements over the years. In spite of all these achievements, the bank was not able to save itself from the negative conspiracy that was started by Simaata Simaata.
Since the negative rumors regarding the bank started to spread, the bank has suffered a lot in terms of its image and business. Clients started to back out and customers stopped transacting from the bank. All these ultimately lead to business loss. It is a known fact that banks are sophisticated and vulnerable institutions. Their businesses are based on their reputation and image and even if a bank a strong imagery, any negative publicity might be bad for its business and future. With loss of customers and clients, the future of the bank started to look brink. It is in this situation when Finance Bank took the bold and right step of launching counterattack on Simaata. The bank’s case at the Supreme Court Zambia was based on claims that Simaata not only broke the agreement terms he had signed with the bank, but also spread false rumors related to the bank without any proof or evidence.
While the bank certainly won the case and the supporters of the bank have been celebrating since then, the war is not yet over for the bank. It will have to work harder and prove itself again to establish itself as the premier bank of Zambia.