Standard Chartered PLC, the majority shareholder of Standard Chartered Bank Botswana Limited, is exploring the sale of its entire shareholding in the bank, raising the prospect of a full exit from the Botswana market.
The bank has been reviewing strategic options to sell its wealth and retail banking business, aiming to focus only on Corporate Investment Banking.
The bank said it is now considering a potential sale of its entire stake in the Botswana subsidiary, not just the wealth and retail banking segment. It said bidders are seeing value in buying the whole operations.
Management said the decision reflects the strength of the bank and the attractiveness of its combined wealth and retail, as well as corporate and investment banking franchises. The proposed disposal is at an early stage and will be subject to regulatory approvals and market conditions.
Shareholders have been cautioned that there is no certainty that the discussions will result in a formal transaction, with a comprehensive announcement to be made if an agreement is reached.
