StanChart shortlists bidders for Wealth, Retail Banking sale
Pauline Dikuelo | Wednesday September 3, 2025 09:53
The Botswana Stock Exchange (BSE)-listed bank is now in the process of evaluating proposals from potential buyers — a move that marks one of the final steps in a divestiture first flagged in late 2024.
'The board wishes to inform the shareholders and the market that the company has shortlisted bidders for the sale of its WRB business and is currently in the process of evaluating their proposals,' read a statement published on the BSE.
Standard Chartered’s initial announcement was made on November 27, 2024, through the local bourse’s website. At the time, shareholders and the market were informed that SCBB was considering strategic options for the WRB division.
The statement further cautioned that if implemented, the sale could have a material effect on the price of the company’s securities.
The transaction is part of a wider restructuring plan by parent company, Standard Chartered PLC, which is reshaping its global footprint by exiting mass retail markets that no longer provide a strong strategic rationale.
In addition to Botswana, similar exits are expected in Zambia and Uganda, where Standard Chartered has also confirmed plans to divest its consumer banking businesses.
The group first confirmed its intention to offload the WRB division in 2023, highlighting a new focus on its Corporate and Investment Banking business. By streamlining operations and concentrating on higher-return segments, Standard Chartered aims to reinforce its competitive edge in markets where it has a deeper strategic advantage.
In Botswana, the planned divestiture comes on the back of strong financial performance by the WRB division.
For the year ended December 2024, the segment delivered income of P791 million, contributing significantly to the bank’s overall performance.
During the same period, SCBB reported total income of P1.065 billion and operating income of P478 million. Officials attributed the robust results to strong momentum in wealth management and banking products aimed at middle-income clients.
According to the bank’s management, wealth assets under management grew threefold in 2024 compared to the previous year, underscoring rising demand for both local and international investment products.
The broader WRB division also expanded by 11% during the same period, driven by increased uptake of structured wealth solutions, savings products, and retail banking services.
Despite the WRB division’s positive contribution, Standard Chartered has stressed that the divestiture aligns with a long-term global strategy rather than local performance concerns.
The bank believes that sharpening its focus on Corporate and Investment Banking will allow it to channel resources into higher-growth opportunities, particularly in financing, advisory, and trade services for corporate clients.
The bank has assured shareholders and customers that operations will continue as normal throughout the transition process. Further updates are expected as negotiations with shortlisted bidders progress, potentially reshaping Botswana’s banking landscape in the months ahead.