Stanbic Bank Zimbabwe is celebrating 25 years as a financial services provider under Standard Bank group in the country. On 30 October 1992, ANZ Grindlays signed a deal selling all its African businesses (Zimbabwe included) to the Standard Bank Investment Corporation. Renamed Stanbic Bank Zimbabwe Limited on 16 August 1993, the financial institution has grown from a nine branch business to twenty branches and 3 private banking suites countrywide.
In an interview held in the capital last week, the Chief Executive Mr Joshua Tapambgwa attributed the bank’s growth and success to its dedicated stakeholders, including, their parent company Standard Bank Group, customers and employees.
“Stanbic Zimbabwe has been receiving a lot of support from its different stakeholders and we are extremely grateful. We owe our success to everyone who believes in our capabilities and all who are with us on this journey of moving Zimbabwe forward”, said Tapambgwa.
Standard Bank Group is present in 20 African markets and celebrated 155 years in the banking industry this year. Joshua also stated that these facts stand as leverage for the Zimbabwean subsidiary which picks up the positive and negative learnings from their parent company and puts them to good use. “Our presence in 19 other African countries has given us great insights into different market structures and we have used that wisdom to build a business model that works for our distinct market”, he explained.
Joshua also highlighted how Stanbic continues to operate with its values as the backbone of their governance model. He said that “Our governance structure is strongly influenced by our values, one of which is delivering to our stakeholders. We take our business and customers seriously and ensure that we deliver positively throughout the years.”
Recently, Stanbic Bank was voted the Best commercial bank in Zimbabwe for the year 2017 and rated one of the strongest banks in the country based on the premise that the strongest banks in the country are those that have clearly robust domestic business franchise, reasonable profit levels, good asset quality and low risks to earnings and liquidity.