StanChart plans Zimbabwe exit

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The group said it will leave Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe.

STANDARD Chartered announced Thursday that it is exiting a number of operations around the world, including Zimbabwe, to cut costs.

The group said it will leave Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe.

It will also close its retail banking units in Tanzania and Ivory Coast, to focus only on corporate banking.

Standard Chartered Group CEO, Bill Winters, said: “As we set out earlier in the year, we are sharpening our focus on the most significant opportunities for growth while also simplifying our business.”

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