FNB ZAMBIA FINALISES AGREEMENT TO ACQUIRE STANDARD CHARTERED’S RETAIL AND WEALTH BANKING BUSINESS
Lusaka…. Wednesday October 29, 2025 (SMART EAGLES)
In a significant development for Zambia’s financial sector, First National Bank (FNB) Zambia has finalised an agreement with Standard Chartered Bank Zambia for the transfer of Standard Chartered’s Wealth and Retail Banking business to FNB Zambia.
The agreement marks a major milestone for both institutions and reflects growing confidence in Zambia’s banking industry.
The transaction, once completed, will see FNB Zambia expand its footprint and customer base, further cementing its position as one of the country’s leading financial service providers.
Speaking on the development, FNB Zambia Chief Executive Officer, Kapumpe Chola, said the acquisition underscores the strength and resilience of Zambia’s financial landscape.
“This strategic move underscores the confidence we have in the Zambian economy and the opportunities it presents. It allows us to expand our offering, deliver enhanced value to customers, and contribute to the continued growth of the banking sector,” said Mr. Chola.
The integration of Standard Chartered’s Retail and Wealth Banking customers into FNB Zambia’s ecosystem is expected to deliver a broader range of digital banking solutions, innovative financial products, and improved access to financial services across the country.
FNB Zambia, a subsidiary of FirstRand Group of South Africa, has continued to expand its presence in the market through digital innovation, tailored financial solutions, and investment in local talent.
Why not just say that Standard Chartered are divesting from Zambia? If retail and wealth management businesses of Standard Chartered are being sold to FNB, what’s left of Standard Chartered? It’s curtains, isn’t it?