Type Private company Number of employees 860 | Industry Financial Services Founded 1892 | |
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Key people S V RushwayachairmanRalph Watungwamanaging director & CEO Products Loans, checking, savings, investments, debit cards Revenue Aftertax: US$8.4 million (2010) Total assets US$281.7 million (2010) Parent organizations Standard Chartered, Standard Chartered Bank | ||
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.
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Overview
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.
As of January 2013, Standard Chartered Bank (Zimbabwe) maintains a network of twenty-nine branches in various urban centres across the country, including at the following locations:
History
Standard Chartered Bank (Zimbabwe) is the oldest financial institution in Zimbabwe, having been established as Standard Bank in 1892. 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.
Ownership
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. The detailed shareholding in Stanchart Zimbabwe is depicted in the table below:
Governance
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.