Standard Chartered Zimbabwe (officially Standard Chartered Bank Zimbabwe Limited) is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

in Zimbabwe and a wholly owned subsidiary of

Standard Chartered Standard Chartered plc is a multinational bank with operations in consumer, corporate and institutional banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 9 ...

. It is licensed by the

Reserve Bank of Zimbabwe The Reserve Bank of Zimbabwe is the central bank of Zimbabwe and is headquartered in the capital city Harare. History The bank traces its history to the Reserve Bank of Rhodesia, founded on 22 May 1964, but which succeeded the Bank of Rhodesia ...

, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

and national banking regulator.

Location

The headquarters and main branch of Standard Chartered Zimbabwe are located on the First Floor of the Africa Unity Square Building, at 68 Nelson Mandela Avenue, in downtown

Harare Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...

, the capital and largest city of Zimbabwe. The geographical coordinates of the bank's headquarters are: 17°49'43.0"S, 31°03'02.0"E (Latitude:-17.828611; Longitude:31.050556).

Overview

Stanchart Zimbabwe is a large commercial bank, serving large corporate clients, upscale retail customers and medium to large business enterprises. As of December 2017, it had total assets that were valued at US$815.8 million with shareholders equity of US$84.6 million. , Standard Chartered Bank Zimbabwe employed 582 personnel.

History

Standard Chartered Bank Zimbabwe is the oldest financial institution in Zimbabwe, having been established as

Standard Bank Standard Bank Group Limited is a major South African bank and financial services group. It is Africa's biggest lender by assets. The company's corporate headquarters, Standard Bank Centre, is situated in Simmonds Street, Johannesburg. History ...

in 1892. The current bank was created when Standard Bank merged with

Chartered Bank The Chartered Bank of India, Australia and China (informally The Chartered Bank) was a bank incorporated in London in 1853 by Scotsman James Wilson, under a Royal Charter from Queen Victoria.

in 1969. According to the bank's website, Stanchart Zimbabwe served in excess of 90,000 account holders, as of May 2018.

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 sixty countries and a network of over 1,700 branches, employing in excess of 86,000 people. The shares of

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

of Standard Chartered Zimbabwe, are owned by three corporate entities as illustrated in the table below, according to the bank's website.

Branches

As of May 2021, the bank maintained branches at the following locations: # Africa Unity Square Branch: Corner of Sam Nujoma Street and Nelson Mandela Avenue,

Main Branch # Bulawayo Branch: Corner of 8th Avenue and Fife Street, Bulawayo

Governance

As of December 2017, the chairman of the seven-person

board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

was L T Manasta, one of the non-Executive Directors. Ralph Watungwa serves as the bank's managing director and chief executive officer.

References

External links

Website of Standard Chartered Bank Zimbabwe

Website of The Reserve Bank of Zimbabwe

As of 13 March 2018. {{coord, 17, 49, 43, S, 31, 03, 02, E, display=title Banks of Zimbabwe Banks established in 1892 Standard Chartered 1892 establishments in the British Empire Companies based in Harare