{"id":86856,"date":"2023-11-16T22:44:33","date_gmt":"2023-11-16T20:44:33","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod"},"modified":"2023-11-17T02:02:27","modified_gmt":"2023-11-17T00:02:27","slug":"stanchart-takeover-by-fbc-gets-regulatory-nod","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod","title":{"rendered":"StanChart takeover by FBC gets regulatory nod"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>STANDARD Chartered Bank Zimbabwe Limited (SCBZL) takeover by FBC Bank has received a green light from the regulator in a development prompting the latter to finalise the process.<\/p>\n

The move follows FBC\u2019s agreement with StanChart to acquire the local business in Zimbabwe in June this year after the former was successful ahead of other possible suitors.<\/p>\n

poster<\/p>\n

This follows StanChart\u2019s strategic decision to divest from a few markets, namely Lebanon, Angola, Cameroon, Gambia, Sierra Leone, Zimbabwe and Jordan, and to exit the CPBB (Consumer Private and Business Banking) business in C\u00f4te d\u2019Ivoire and Tanzania.<\/p>\n

The Bank announced the sale of its business in Jordan earlier in March this year.<\/p>\n

Under the agreement, FBCH will acquire 100% shareholding in StanChart and by extension, the custodial services business that is wholly owned by Standard Chartered Bank Zimbabwe.<\/p>\n

FBCH will also acquire the economic interest in Africa Enterprise Network Trust whose main asset is a 20,7% shareholding in Mashonaland Holdings.<\/p>\n

FBCH will continue to employ all Standard Chartered Bank Zimbabwe\u2019s employees.<\/p>\n

In an update Tuesday, the Reserve Bank of Zimbabwe (RBZ) announced that the deal had received regulatory approval.<\/p>\n

\u201cThe Bank wishes to advise the banking public that the Registrar of Banking Institutions approved FBC Holdings Limited\u2018s acquisition of 100% shareholding (Significant interest) in StanChart.<\/p>\n

\u201cThe Bank also advises the public that has been granted by the Registrar of Banking Institutions for FBC Holdings to be registered as a controlling company for Standard Chartered Bank Zimbabwe Limited,\u201d said the RBZ.<\/p>\n

The RBZ said the agreement will result in FBC Holdings Limited taking control of Standard Chartered Bank Zimbabwe Limited as defined in terms of the Banking Act (Chapt 24:20).<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. STANDARD Chartered Bank Zimbabwe Limited (SCBZL) takeover by FBC Bank has received a green light from the regulator in a development prompting the latter to finalise the process. The move follows FBC\u2019s agreement with StanChart to acquire the local business in Zimbabwe in June this year after the former was successful ahead […]<\/p>\n","protected":false},"author":84,"featured_media":86855,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[1493,2189,19],"class_list":["post-86856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nStanChart takeover by FBC gets regulatory nod - zimbabwe<\/title>\n<meta name=\"description\" content=\"STANDARD Chartered Bank Zimbabwe Limited (SCBZL) takeover by FBC Bank has received a green light from the regulator in a ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"StanChart takeover by FBC gets regulatory nod\" \/>\n<meta property=\"og:description\" content=\"STANDARD Chartered Bank Zimbabwe Limited (SCBZL) takeover by FBC Bank has received a green light from the regulator in a ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-16T20:44:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-17T00:02:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/11\/sm_1700162974.851241.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"588\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"StanChart takeover by FBC gets regulatory nod\",\"datePublished\":\"2023-11-16T20:44:33+00:00\",\"dateModified\":\"2023-11-17T00:02:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod\"},\"wordCount\":297,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/11\/sm_1700162974.851241.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/stanchart-takeover-by-fbc-gets-regulatory-nod\",\"name\":\"StanChart takeover by FBC gets regulatory nod - 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