Standard Chartered Zambia, officially Standard Chartered Bank Zambia Plc, commonly known as is a Stanchart Zambia, 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 ...

Zambia Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are t ...

and a

subsidiary A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a ...

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

Bank of Zambia The Bank of Zambia (BoZ), is the central bank of Zambia. Overview The principal responsibility of the bank is to create and implement monetary policy that will maintain the economic stability of the country. The Bank is active in promoting financ ...

, 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 centra ...

and national banking regulator. The bank serves large

corporate A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and r ...

clients, upscale retail customers and medium to large business enterprises. It is one of the largest commercial banks in Zambia, by assets. , the total

asset valuation In finance, valuation is the process of determining the present value (PV) of an asset. In a business context, it is often the hypothetical price that a third party would pay for a given asset. Valuations can be done on assets (for example, inv ...

of the bank was ZMW:8.851 billion (US$893.8 million), with shareholders' equity of ZMW:873.5 million (US$88.2 million). Stanchart Zambia in partnership with BongoHive runs a programme for female-led and founded businesses called Standard Chartered Women in Technology. This program won the Best Tech-For-Women Initiative award at The Techtrends Zambia Awards 2021.

History

The bank was established in 1906. 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 compan ...

of Stanchart Zambia are listed on the Lusaka Stock Exchange (LUSE), where they trade under the symbol: ''SCBL''.

Ownership

Stanchart Zambia is a subsidiary of the

Standard Chartered Bank 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 ...

, an International financial services

conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** ...

, headquartered in

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and ...

, with operations in more than sixty countries and a network of over 1,700 branches, employing in excess of 86,000 people. As of December 2017, the shares of

of Standard Chartered Bank Zambia Limited was owned by the following entities. ^{1 → Standard Chartered Holdings (Africa) BV (incorporated in The Netherlands

)
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, image_map =
, map_caption =
, subdivision_type = Sovereign state
, subdivision_name = Kingdom of the Netherlands
, established_title = Before independence
, established_date = Spanish Netherl ...
) is a wholly owned subsidiary of Standard Chartered Plc.}

Location

The

headquarters Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the to ...

and main branch of the bank are located at Standard Chartered House, along Cairo Road, in the city of

Lusaka Lusaka (; ) is the capital and largest city of Zambia. It is one of the fastest-developing cities in southern Africa. Lusaka is in the southern part of the central plateau at an elevation of about . , the city's population was about 3.3 millio ...

, the largest city and capital of Zambia.

References

Banks of Zambia Companies based in Lusaka Standard Chartered Banks established in 1906 1906 establishments in Africa 1906 establishments in the British Empire Companies listed on Lusaka Stock Exchange {{coord, 15, 24, 33, S, 28, 16, 48, E, display=title

History

Ownership

Location

See also

References