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Monday, 23 June 2025

STANDARD CHARTERED COMPLETES TRANSFER OF WEALTH & RETAIL BANKING TO ACCESS BANK PLC

On 20 June 2025, Herman Kasekende (right), CEO & Head of Coverage, Standard Chartered Tanzania, and Imani John (left), Managing Director, Access Bank Tanzania, formally signed the agreement marking the successful closure of the sale of Standard Chartered’s Wealth and Retail Banking business in Tanzania.

20 June 2025, Dar es Salaam, Tanzania – We are pleased to announce the successful handover of Standard Chartered’s Wealth & Retail Banking business to Access Bank PLC. The hand over is in line with Standard Chartered’s global strategy, aimed at achieving operational efficiencies, reducing complexity, and driving scale.



In April 2022, Standard Chartered strategically decided to divest from several markets, including a decision to exit the Wealth and Retail business in Tanzania. Today’s migration to Access Bank PLC marks a completion of the divestment and a new chapter for Access Bank PLC.



Herman Kasekende, Chief Executive for Standard Chartered Tanzania remarked, “this transition represents a pivotal moment for Standard Chartered as we refocus our efforts on our core strengths. Our priority throughout this process has been to ensure a seamless transition for our employees and clients, who are at the heart of everything we do. We are confident that under Access Bank PLC, our retail clients and staff will continue to receive the high level of service and support they have been accustomed to."



While exiting the retail segment, Standard Chartered remains committed to Tanzania and will continue to maintain a strong presence and focus on its Corporate and Investment Banking business in the country.

The Bank remains a core part of Standard Chartered Group’s strategic footprint in Africa. Standard Chartered has been operating in Tanzania since 1917 and stands as a valued partner for Corporates, Institutions, and the Government.

For further information please contact:

Mercy Kabangi
Head of Communications, Kenya and Africa
Phone: +254 0719471258
Email: Mercy.Kabangi@sc.com

Desideria Mwegelo
Head, Corporate Affairs, Brand & Marketing Tanzania | Head, CIB Marketing Africa
Phone : +255 753 335 333
E-mail: desideria.mwegelo@sc.com

About Standard Chartered

We are a leading international banking group, with a presence in 53of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

For more stories and expert opinions please visit Insights at sc.com.

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