STANDARD Chartered Bank Zambia has announced the official sale of its Wealth and Retail Banking (WRB) business portfolio in Zambia to First National Bank (FNB) Zambia. The transaction is subject to regulatory approvals. In November 2024, Standard Chartered Bank Zambia announced that it intended to explore options for the sale of its Wealth and Retail Banking (WRB) business. The bank said if implemented, the sale might have a material effect on the price of the Company’s securities. In a joint statement, Wednesday, the banks said all Standard Chartered Zambia WRB clients would transfer to FNB Zambia, while all WRB employees would be offered employment at FNB Zambia. “Standard Chartered and First National Bank (FNB) Zambia have entered into an agreement...