The public is informed that Standard Chartered Bank Botswana Limited (Stanchart) is exploring sale of its wealth and retail banking business (that is, personal banking services). The bank will maintain its services to the corporate and investment banking clients, with a focus on the cross-border business.
Stanchart, therefore, intends to identify a potential buyer for that business segment, but will ensure that personal banking customers experience no service disruption during the transition. The decision emanates from the group holding company, Standard Chartered PLC, and affects three other African countries. The transition, planned for completion by June 2026, will be subject to regulatory approval by the Bank of Botswana (Bank); which involves ensuring that the transfer of the business is seamless and is to a safe and sound institution, and the interests of bank customers, as well as safety and integrity of the banking system, are safeguarded.
The Bank assures the public that Stanchart continues to be compliant with all statutory and prudential requirements, as it satisfies liquidity and solvency requirements, supported by sound operations. Thus, the public is advised to conduct business with the Stanchart in the normal manner.
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