Standard Chartered Zambia and FNB Zambia have […]

Standard Chartered Zambia and FNB Zambia have received approval from the Bank of Zambia to transfer Standard Chartered’s Wealth and Retail Banking business to FNB Zambia. This milestone underscores confidence in the strength and stability of Zambia’s financial system and highlights FNB Zambia’s position as a well-capitalised institution with strong governance and a long-term commitment to the market.

Commenting on the approval, Kapumpe Chola, CEO of FNB Zambia, stated that the Bank of Zambia’s approval is a significant milestone that reinforces confidence in Zambia’s banking system and FNB Zambia’s long-term commitment to the market.

“We recognise the strong heritage and customer relationships Standard Chartered has built and look forward to welcoming customers and employees to FNB Zambia. Our priority is to maintain continuity, preserve trust, and deliver innovative, best-in-class customer-focused solutions backed by our people and technology.”

“As we move forward, we remain committed to a smooth transition and to building a stronger, more inclusive financial services sector that supports individuals, businesses, and communities to thrive. We look forward to working closely with all stakeholders during this transition and to creating even greater value for customers and the broader Zambian economy”. 

Standard Chartered Zambia, Sonny Zulu, CEO & Managing Director, stated that, “this approval is timely and a testament to the strength and vital contribution of both banking institutions to the banking industry. 

“This decision reflects our continued commitment to align our operations with the Standard Chartered Group’s global strategy, focusing on our core strengths in Corporate & Investment Banking. We are proud of the strong retail franchise we have built over the years in Zambia and are confident that FNB Zambia is well-positioned to take this business forward, ensuring continuity, innovation, and enhanced client experiences.”

The regulatory approval of the transaction, which SCB and FNB first announced on 29 October 2025, will strengthen FNB Zambia’s retail and wealth banking capabilities by leveraging its infrastructure, digital platforms, and experienced teams to deliver reliable, customer -focused services. For now, there are no immediate changes for clients, and day -to-day banking will continue as usual.

With the approval secured, Standard Chartered Bank and FNB Zambia can now proceed with the transition and completion of the transaction. Standard Chartered’s WRB clients and employees will be kept informed at every stage to ensure a seamless migration process.