Standard Chartered Zambia

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Standard Chartered Bank (Zambia)
Public: LuSE: SCZ
Industry Financial Services
Founded 1906
Headquarters Cairo Road, Lusaka, Zambia
Key people

Michael M Mundashi
Chairman

Andrew Okai

Managing Director & CEO[1]
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue IncreaseAftertax:US$25.8 million (ZMK:132.5 billion) (2011)
Total assets US$893 million (ZMK:4.586 billion) (2011)
Number of employees
800+ (2014
Website www.sc.com/zm

Standard Chartered Zambia (officially Standard Chartered Bank (Zambia) Plc) is a commercial bank in Zambia and a subsidiary of Standard Chartered. It is one of the 18 commercial banks licensed by the Bank of Zambia, the national banking regulator.[2]

Overview[edit]

Stanchart Zambia is a large bank, serving large corporate clients, upscale retail customers and medium to large business enterprises.[3] It is one of the largest commercial banks in Zambia, by assets, controlling an estimated 20% of all commercial bank assets in the country, as of December 2007. In December 2011, the total asset valuaion of the bank was about US$893 million (ZMK:4.586 billion), with shareholder's equity valued at US$72 million (ZMK:373 billion).[4] In June 2012, Zambian press reports indicated that the bank's total assets had increased to US$902 million (ZMK:4,632 billion), with shareholders' equity of about US$78 million (ZMK:400 million).[5]

History[edit]

The bank was established in 1906. The shares of stock of Stanchart Zambia are listed on the Lusaka Stock Exchange (LuSE), where they trade under the symbol: SCZ.[6]

Ownership[edit]

Stanchart Zambia is a subsidiary of the Standard Chartered Bank Group, an International financial services conglomerate, headquartered in London in the United Kingdom, with operations in more than seventy countries and a network of over 1,700 branches, employing in excess of 73,000 people.[7]

Stock Ownership as at December 31, 2013 was as follows:[8]

Standard Chartered Zambia stock ownership
Rank Name of Owner Percentage Ownership
1 Standard Chartered Holdings (Africa) BV1 90.00
2 Others via the Lusaka Stock Exchange 10.00
Total 100.00

1 → Standard Chartered Holdings (Africa) BV (incorporated in The Netherlands) is a wholly owned subsidiary of Standard Chartered Plc.

Branch network[edit]

As of October 2012, the bank maintains a network of branches at the following locations:[9]

  1. Head Office - Standard Chartered House, Cairo Road, Lusaka
  2. Buteko Branch - Buketo Avenue, Ndola
  3. Chililabombwe Branch - Chililabombwe
  4. Chingola Branch - Chingola
  5. Choma Branch - Choma
  6. Crossroads Branch - Crossroads, Lusaka
  7. Fallspark Branch - Fallspark, Livingstone
  8. Jacaranda Branch - Jacaranda Mall, Ndola[10]
  9. Kabulonga Branch - Kabulonga Shopping Center, Lusaka
  10. Kasama Branch - Kasama
  11. Kitwe Branch - Zambia Way, Kitwe
  12. Livingstone Branch - Livingstone
  13. Luanshya Branch - Luanshya
  14. Manda Hill Branch - Manda Hill Shopping Center, Lusaka
  15. Mazabuka Branch - Mazabuka
  16. Mongu Branch - Mongu
  17. Ndola South Branch - Ndola South, Ndola
  18. North End Branch - North End, Lusaka
  19. Solwezi Branch - Solwezi

Management Board[edit]

The Chief Executive Officer (CEO) and Managing Director of Standard Chartered Bank (Zambia) is Andrew Okai appointed in September 2013. Andrew is a native of Ghana and has been with the Standard Chartered Bank Group since 1997. Andrew previously served as Executive Director of Consumer Banking at Standard Chartered Bank in Ghana. He has also worked for Standard Chartered in South Africa and Hong Kong.

See also[edit]

External links[edit]

References[edit]