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Standard Chartered Bank Zambia in expansion project

Standard Chartered Bank recently opened its Jacaranda branch in Ndola to enhance its customer service on the Copperbelt. (Image source: Canadian Pacific)

Standard Chartered Bank Zambia is set to invest more than US$2.8mn to expand its footprint in Zambia, according to information obtained from the financial institution

The bank’s head of consumer banking, Sonny Zulu, said that this year it would inject funds into the building of six additional branches, adding that it was committed to increasing its presence by more than 100 new branches in Africa.

"As a bank, we have increased our investment in Africa as a whole and we are attracting a lot of investment in expanding the network across Africa," Zulu remarked. 

"We have committed this year that we are going to increase our footprint by over 100 new branches and six of those are going to be in Zambia which currently are under development."

Recently, the bank opened its Jacaranda branch in Ndola to enhance its customer service on the Copperbelt.

Meanwhile, Standard Chartered Bank Zambia managing director and CEO Mizinga Melu disclosed that the bank projects growth to its mortgage book by US$57.1mn by the end of 2013, with year-on-year growth of 21 per cent.

"As an integral part of the Zambian economy, we strive to lead the market in performance and in providing innovative products and services to our customers," Melu remarked. 

"In further enhancing our portfolio of solutions to our customers, we recently relaunched our mortgage products and this is accessible to all qualifying customers." 

Nawa Mutumweno

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