Finance Bank Zambia suffered reputation damage and negative publicity for a long time. The bank, which was established by Dr. Rajan Mahtani, was in the midst of conspiracy and false rumors which ultimately resulted in loss of clients, customers and businesses. The conspiracy was started by Simaata Simaata, who used to work with the bank. Simaata was fired from the bank for engaging in unethical practices. The bank has maintained a clean and honest image since its inception and has won many awards for his various achievements over the years. The bank is notable for helping the unprivileged strata of the Zambian society by providing them with opportunities in form of easy loans and finances.
In spite of these achievements, the bank suffered huge losses due to the negative publicity. Banks belong to a sophisticated industry wherein even a small rumor regarding a financial institution can cause great damage to the banks. The revenue earnings of these banks are heavily influenced by their reputation across the industry and society. Finance Bank Zambia also suffered a similar fate when customers started to pull out of the bank after the rumors started to spread. Furthermore, many old conspirators and haters of the bank and Dr. Rajan Mahtani took this opportunity to launch their own campaigns, adding oil to the fire. As a result of the activities, the reputation and businesses of Finance Bank plummeted and the bank quickly reached its low point. After that, the famous case was launched by Finance Bank Zambia against Simaata at the Supreme Court.
The results from the case was inevitable as the judges saw all evidence and concluded that Simaata was indeed guilty of breaching contract and spreading false rumor. If though Finance Bank won the case, it will take a long time for the bank to reach similar reputation and image which it had before this conspiracy started.