Finance
StanChart Mulls Sale of Units in Zambia, Uganda and Botswana
- Bank weighing sale of wealth and retail banking businesses
- Moves would be the first in small number of potential exits
Standard Chartered Plc is exploring a potential sale of its wealth and retail banking businesses in a trio of African countries to free up cash that it will plow into other parts of the business.
The lender is exploring sales of those units in Botswana, Uganda and Zambia, according to a statement. The bank said any impact from the proposed exits would not be material to its financial results.