Standard Chartered Bank (Zimbabwe)
Encyclopedia
Standard Chartered Bank Limited, commonly known as Stanchart Zimbabwe, is a commercial bank
in Zimbabwe
. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe
, the national banking regulator.
, 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.
, 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:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Stanchart Zimbabwe Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1|| Standard Chartered Holdings (Africa)||88.00
|-
|2||Standard Chartered Bank
||09.00
|-
|3|| Standard Chartered Holdings (International)||03.00
|-
| ||Total||100.00
|-
|}
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
.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Zimbabwe
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
. It is one of the commercial banks licensed by the Reserve Bank of Zimbabwe
Reserve Bank of Zimbabwe
The Reserve Bank of Zimbabwe is the central bank of Zimbabwe.-History:The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board....
, the national banking regulator.
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.History
Standard Chartered Bank (Zimbabwe) is the oldest financial institution in ZimbabweZimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
, having been established as Standard Bank
Standard Bank (historic)
The Standard Bank was a British overseas bank, which operated mainly in Africa from 1863 to 1969. It merged with the Chartered Bank in 1969 to form Standard Chartered.-History:...
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 GroupStandard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
, an International financial services conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
, headquartered in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, 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:
{| style="font-size:100%;"
|-
| width="100%" align="center" | Stanchart Zimbabwe Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1|| Standard Chartered Holdings (Africa)||88.00
|-
|2||Standard Chartered Bank
Standard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
||09.00
|-
|3|| Standard Chartered Holdings (International)||03.00
|-
| ||Total||100.00
|-
|}
Branch network
, Standard Chartered Bank (Zimbabwe) maintains a network of twenty-six (26) branches in various urban centers across the country, including at the following locations:- Main Branch - Second Floor Old Mutual Centre, HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
- Karigamombe Branch - 53 Samora Machel Avenue, HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
- Priority Banking Branch - Ground Floor Old Mutual Centre, HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
- Africa Unity Branch - Africa Unity Square, HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
- Avondale Branch - King George Road, HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
- Beit Bridge Branch - Great North Road, Beit Bridge
- Bindura Branch - 30 Main Street, BinduraBinduraBindura is a town in the province of Mashonaland Central, Zimbabwe. It is located in the Mazowe Valley about 88 km north-east of Harare. According to the 1982 Population Census, the town had a population of 18,243. This rose to 21,167 in the 1992 census. It is the administrative capital of the...
- Borrowdale Branch - 33 Borrowdale Village, BorrowdaleBorrowdaleBorrowdale is a valley and civil parish in the English Lake District in the Borough of Allerdale in Cumbria, England.Borrowdale lies within the historic county boundaries of Cumberland, and is sometimes referred to as Cumberland Borrowdale in order to distinguish it from another Borrowdale in the...
- Bulawayo Branch - 84 Fife Ave, BulawayoBulawayoBulawayo is the second largest city in Zimbabwe after the capital Harare, with an estimated population in 2010 of 2,000,000. It is located in Matabeleland, 439 km southwest of Harare, and is now treated as a separate provincial area from Matabeleland...
- Chinhoyi Branch - 14 Robson Manyika Drive, ChinhoyiChinhoyiChinhoyi is a large provincial town and is the capital of Mashonaland West province in Zimbabwe. Sinoia was established in 1906 as a group settlement scheme by a wealthy Italian called Lieutenant Margherito Guidotti who encouraged 10 Italian families to settle there.- Overview :Chinhoyi is located...
- Chiredzi Branch - 62 Chironga Drive, ChiredziChiredziChiredzi is a small town in Masvingo province in south-east Zimbabwe. Together with its sister town of Triangle, it is the major center of sugar production in the country.-Background:...
- Chivhu Branch - 542 Terblanche Street, ChivhuChivhuChivhu is a small town in Zimbabwe, with an estimated population of 10,000 in 2007. It is located south of Harare on the main road south to Masvingo and South Africa.-History:...
- Gweru Branch - 32 Robert Mugabe Way, GweruGweruGweru is a city near the centre of Zimbabwe at . It has a population of about 146,073 , making it the third largest city in the nation. Gweru is the capital of Midlands Province. Gweru was founded in 1894 by Dr. Leander Starr Jameson. The first bank opened in Gweru in 1896, and the stock exchange...
- Highlands Branch - 45 Enterprise Road, Highlands
- Hwange Branch - 6 Coronation Drive, HwangeHwangeHwange is a town in western Zimbabwe, in the province of Matabeleland North. It is named after the chieftain of Zwange, who is now called Chief Hwange. The town was known as Wankie until 1982. According to the 1992 Population Census, the town had a population of 42,581...
- Kadoma Branch - 48 Robert Mugabe Street, Kadoma
- Kwekwe Branch - First Street, KwekweKwekweKwekwe or Kwe Kwe , formerly spelt Que Que, is a city in central Zimbabwe. It is located in the centre of the country —roughly equidistant from Harare to the northeast and Bulawayo to the southwest. Its population stood at 47,607 in 1982, 75,425 in 1992 and the preliminary result of the 2002...
- Marondera Branch - 51B The Green, MaronderaMaronderaMarondera is a town in Mashonaland East, Zimbabwe, located about 72 km east of Harare; population 39,384...
- Masvingo Branch - 22 Robert Mugabe Street, MasvingoMasvingoMasvingo is a town in south-eastern Zimbabwe and the capital of Masvingo Province. The town is close to Great Zimbabwe, the national monument from which the country takes its name.- History :...
- Mutare Branch - 97 H. Chitepo Street, MutareMutareMutare is the fourth largest city in Zimbabwe, with a population of around 170,000. It is the capital of Manicaland province.-History:...
- Mutoko Branch - MutokoMutokoMutoko is a small town in Mashonaland East province, Zimbabwe. It was established as an administrative station in 1911. It lies 143 km from Harare. It is named after the local Chief Mutoko....
- Mvurwi Branch - 27 Catham Avenue, MvurwiMvurwiMvurwi is a town in Mashonaland Central province in Zimbabwe.Some of Mvurwi's schools include Holy Rosary Primary and Secondary School, Mvurwi Primary and HighSchool and Umvukwes Primary School which is one of the town's most elite learning facilities and...
- Robert Mugabe Branch - Robert Mugabe Road, HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
- Rusape Branch - 20 Robert Mugabe Street, RusapeRusapeRusape is a town in the province of Manicaland, Zimbabwe with a population of around 20,000 , situated on the Harare-Mutare main road, approximately 170 km south east of Harare and 93 km north west of Mutare. Rusape is a large, sprawling town that has not quite reached city status...
- Southerton Branch - Paisley Road, Southerton, HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
- Victoria Falls Branch - Livingstone Way, Victoria FallsVictoria FallsThe Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:...
Governance
The Chairman of the Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
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
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
.
See also
- List of banks in Zimbabwe
- Standard Chartered BankStandard Chartered BankStandard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
- Standard Chartered Bank (Zambia)Standard Chartered Bank (Zambia)Standard Chartered Bank Plc., commonly known as Stanchart Zambia, is a commercial bank in Zambia. It is one of the eighteen commercial banks licensed by the Bank of Zambia, the national banking regulator.-Overview:...
- Standard Chartered Bank (Uganda)Standard Chartered Bank (Uganda)Standard Chartered Bank Limited, commonly known as Stanchart Uganda, is a commercial bank in Uganda. It is one of the banks licensed by the Bank of Uganda, the national banking regulator.-Overview:...
- Zimbabwe Stock ExchangeZimbabwe Stock ExchangeThe Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. It has been open to foreign investment since 1993. The exchange has about a dozen members and over 65 listed securities...