Standard Chartered Zimbabwe

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Standard Chartered Bank (Zimbabwe)
Type Private company
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]

As of January 2013, Standard Chartered Bank (Zimbabwe) maintains a network of twenty-nine branches[3] in various urban centres across the country, including at the following locations:

History[edit]

Standard Chartered Bank (Zimbabwe) is the oldest financial institution in Zimbabwe, having been established as Standard Bank in 1892.[4] 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.[5]

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. [6] The detailed shareholding in Stanchart Zimbabwe is depicted in the table below:[7]

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

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]