Standard Chartered Zimbabwe

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Standard Chartered Bank (Zimbabwe)
Type Private
Industry Financial Services
Founded 1892
Headquarters Mutual Center
Harare, Zimbabwe
Key people S V Rushwaya
Chairman
Ralph Watungwa
Managing Director & CEO
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax: US$8.4 million (2010)
Total assets US$281.7 million (2010)
Employees 860+ (2010)
Website www.sc.com/zw

Standard Chartered Zimbabwe (officially Standard Chartered Bank (Zimbabwe) Limited) is a commercial bank in Zimbabwe and a wholly owned subsidiary of Standard Chartered. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe, the national banking regulator. [1]

Overview[edit]

Stanchart Zimbabwe is a mid-sized commercial bank, serving large corporate clients, upscale retail customers and medium to large business enterprises. As of December 2010, it was one of the largest International banks in Zimbabwe. At that time, its total assets were valued at US$281.7 with shareholders equity of US$32 million.[2]

History[edit]

Standard Chartered Bank (Zimbabwe) is the oldest financial institution in Zimbabwe, having been established as Standard Bank in 1892.[3] The current bank was created when Standard Bank merged with Chartered Bank in 1969. Stanchart Zimbabwe is one of the largest International banks in Zimbabwe, with a personal banking customer list in excess of 63,000 and a corporate client list exceeding 200 companies, according to its website.[4]

Ownership[edit]

Stanchart Zimbabwe 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. [5] The detailed shareholding in Stanchart Zimbabwe is depicted in the table below:[6]

Stanchart Zimbabwe Stock Ownership
Rank Name of Owner Percentage Ownership
1 Standard Chartered Holdings (Africa) 88.00
2 Standard Chartered Bank 09.00
3 Standard Chartered Holdings (International) 03.00
Total 100.00

Branch network[edit]

As of January 2013, Standard Chartered Bank (Zimbabwe) maintains a network of twenty-nine branches [7] in various urban centers across the country, including at the following locations:

  1. Main Branch - Second Floor Old Mutual Centre, Harare
  2. Africa Unity Branch - Africa Unity Square, Harare
  3. Avondale Branch - King George Road, Harare
  4. Beit Bridge Branch - Great North Road, Beit Bridge
  5. Belmont Branch - Number 51, Plumtree Road
  6. Bindura Branch - 30 Main Street, Bindura
  7. Borrowdale Branch - Suite 33, Sam Levy's Village, Borrowdale
  8. Call Banking Centre - Robert Mugabe Branch, Mezzanine Floor, Harare
  9. Bulawayo Branch - 84 Fife Ave, Bulawayo
  10. Chinhoyi Branch - 14 Robson Manyika Drive, Chinhoyi
  11. Chiredzi Branch - 62 Chironga Drive, Chiredzi
  12. Chivhu Branch - 542 Terblanche Street, Chivhu
  13. Cripps Road Agency - 27A Cripps Road, Graniteside, Harare
  14. Developmental Organisations Centre - Ground Floor Old Mutual Centre, Harare
  15. Gweru Branch - 32 Robert Mugabe Way, Gweru
  16. Highlands Branch - 45 Enterprise Road, Highlands
  17. Hwange Branch - 6 Coronation Drive, Hwange
  18. Kadoma Branch - 48 Robert Mugabe Street, Kadoma
  19. Kwekwe Branch - First Street, Kwekwe
  20. Marondera Branch - 51B The Green, Marondera
  21. Masvingo Branch - 22 Robert Mugabe Street, Masvingo
  22. Mutare Branch - 97 H. Chitepo Street, Mutare
  23. Mutoko Branch - Mutoko
  24. Mvurwi Branch - 27 Catham Avenue, Mvurwi
  25. Robert Mugabe Branch - Robert Mugabe Road, Harare
  26. Rusape Branch - 20 Robert Mugabe Street, Rusape
  27. Southerton Branch - Paisley Road, Southerton, Harare
  28. Victoria Falls Branch - Livingstone Way, Victoria Falls
  29. Westgate Agency Branch - Suite 13, Main Plaza, Westgate, Harare

Governance[edit]

The Chairman of the Board of Directors of the bank is Ian Mackenzie, one of the non-Executive Directors. Washington Mutsaira serves as the bank's Managing Director and Chief Executive Officer.

See also[edit]

External links[edit]

References[edit]