Standard Chartered Bank Zambia has announced the closure of five of its branches without stating any reasons.
Standard Chartered stated that the Mongu, Kasama, Chililabombwe and Luanshya branches would close, whilst the branch at Crossroads Mall in Lusaka would merge with the Kabulonga branch.
According to a client notice, Friday, Standard Chartered head retail and marketing for Zambia and Southern Africa DeepPal Singh stated that the changes would take effect on January 1, 2020.
“The bank wishes to inform its clients and members of the general public of the following changes to our branch network: Mongu branch will close, Kasama branch will close, Chililabombwe branch will close, Luanshya branch will close, Crossroads branch will merge with Kabulonga branch. These changes are effective from 1 January 2020,” the notice read.
“Over the last years, the bank has substantially invested in digital capabilities that provide platforms for self service transactions. These include; online banking, SC mobile application, cash deposit ATMs, straight to bank platform, 24/7 contact centre and mobile wallet among others.”
It however emphasised the banks commitment to the growth of the Zambian market.
“Please be advised that our online self service platforms remain available for your ease of banking. With over 113 years history in Zambia, the bank remains committed to the growth of this market. To our clients and staff, we apologise for any inconvenience the changes may cause. Please call 5247 for more details,” read the notice.
But efforts to get more information on the cause and implications of this move proved futile by press time as the corporate affairs manager’s line went unanswered.