Standard Chartered Bank Zambia announced on 29 October 2025 that it has agreed to sell its wealth and retail banking business to FNB Zambia. The transaction covers retail loans, deposits, credit cards, and customer accounts, transferring Standard Chartered's consumer-facing operations in Zambia to FirstRand's Zambian subsidiary while allowing the seller to retain its corporate and investment banking franchise in the country.
The deal is subject to approval by Standard Chartered Zambia's shareholders and to regulatory approvals, including from the Bank of Zambia.
FNB ZAMBIA ACQUIRES RETAIL BOOK AND DEPOSITS
The portfolio being transferred comprises about ZMW 1.6 billion of loans and advances, ZMW 5.2 billion of customer deposits and ZMW 3.8 billion of wealth assets under management, together with ATMs, cash deposit machines, branches and staff; the price was not disclosed.
Standard Chartered's decision to retain its corporate and investment banking operations in Zambia distinguishes this transaction from a full market exit. The bank will continue to operate in Zambia in that capacity following the completion of the sale.