Type Public: LuSE: SCZ Headquarters Lusaka, Zambia Founded 1906 | Industry Financial Services Number of employees 800 Parent organization Standard Chartered | |
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Key people Michael M Mundashi
Chairman
Andrew Okai
Managing Director & CEO Products Loans, Checking, Savings, Investments, Debit Cards Revenue Aftertax:US$25.8 million (ZMK:132.5 billion) (2011) Total assets US$893 million (ZMK:4.586 billion) (2011) | ||
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.
Contents
Overview
Stanchart Zambia is a large bank, serving large corporate clients, upscale retail customers and medium to large business enterprises. 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). 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).
History
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.
Ownership
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.
Stock Ownership as at December 31, 2013 was as follows:
1 → Standard Chartered Holdings (Africa) BV (incorporated in The Netherlands) is a wholly owned subsidiary of Standard Chartered Plc.
Branch network
As of October 2012, the bank maintains a network of branches at the following locations:
- Head Office - Standard Chartered House, Cairo Road, Lusaka
- Buteko Branch - Buketo Avenue, Ndola
- Chililabombwe Branch - Chililabombwe
- Chingola Branch - Chingola
- Choma Branch - Choma
- Crossroads Branch - Crossroads, Lusaka
- Fallspark Branch - Fallspark, Livingstone
- Jacaranda Branch - Jacaranda Mall, Ndola
- Kabulonga Branch - Kabulonga Shopping Center, Lusaka
- Kasama Branch - Kasama
- Kitwe Branch - Zambia Way, Kitwe
- Livingstone Branch - Livingstone
- Luanshya Branch - Luanshya
- Manda Hill Branch - Manda Hill Shopping Center, Lusaka
- Mazabuka Branch - Mazabuka
- Mongu Branch - Mongu
- Ndola South Branch - Ndola South, Ndola
- North End Branch - North End, Lusaka
- Solwezi Branch - Solwezi
Management Board
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.