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Standard Chartered Bank Zambia is making significant progress in the ongoing process to sell its Wealth & Retail Banking (WRB) businesses, with Chief Executive Officer Sonny Zulu reporting strong interest from potential buyers.
Zulu confirmed that the bank had made good headway in the evaluation process, adding that the sale was expected to take 18 to 24 months to complete.
He emphasized that despite this transition, it was business as usual for the bank.
“We continue to open new accounts and issue loans monthly. Our business is growing, with deposits rising over 13 percent year-on-year and retail deposits increasing by 43 percent ,” Zulu said during the launch of the bank’s 2024 Ford Ranger Wildtrak 2.0 Reloaded personal loan campaign in Lusaka.
He added that the bank remained committed to providing innovative financial solutions and meeting the evolving needs of its clients.
As part of the campaign, clients have the chance to win prizes such as a solar solution package or a Samsung A3 smartphone, with the grand prize being a 2024 Ford Ranger Wildtrak, valued at over K1.7 million.
Zulu also outlined additional customer-focused initiatives, including offering affluent clients access to US fixed-income securities, enhancing portfolio management capabilities, and expanding the bank’s international banking services to offer seamless access to global financial markets.
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