Banking costs too high - Matambo

He also noted that unfavourable public perceptions about the level of disclosures, cost of banking services and responsiveness of banks to public complaints, still exist.

"It is my sincere hope that as more banks and branches open in the country, competition will increase and thereby reduce the relative costs of banking services," he said during the official opening of Standard Chartered's 14th fully-fledged branch at the Airport Junction Mall last week.