Stanbic Bank Wins Best Bank in Zambia
Stanbic Bank has been awarded Best Bank in Zambia 2017 by EMEA Finance. Giving an update on the award, Chief Executive, Mr Charles Mudiwa said Stanbic Bank is a rooted partner for growth in Zambia. ‘The Best Bank award by EMEA Finance is affirmation of our strategy to driving Zambia’s growth through provision of financial services to key sectors of the economy’, said Mr Mudiwa.
Stanbic Bank has provided over ZMW70billion in the last five years to support and finance key economic growth sectors that are driving the country forward. The funding went towards agriculture, mining, energy, real estate and the SMEs.
“For 61years, Zambia has been our home and we are passionate about contributing to the country’s growth and its future. We believe everything we do must have a positive impact on society, the economy, and the environment hence the ZMW70billion financing to key growth sectors in the last five years to drive growth and move Zambia forward,” he said.
The ZMW70 billion financing is investment in different sectors of power, infrastructure, real estate, agriculture, mining and energy, and small medium enterprises (SMEs). In addition, Stanbic Bank paid a total of ZMW345million in tax payments for 2016 that included Corporate Tax, PAYE, Withholding Tax and Value Added Taxes. Stanbic Bank has over 140,000 retail banking customers, and as at December 2016, its total assets stood at ZMW10.4 billion.
Mr Mudiwa further stated that a combination of factors such as good economic policies enabled by Government and a positive outlook in commodities on the world market where copper is experiencing all-time high prices is resulting in positive economic growth.
“Economy outlook is positive and we commend Government for putting in place sound policies aimed at stimulating the economy, reduced load-shedding, as well as an upturn in copper prices on the world market among other factors’ said Mr Mudiwa.