Standard Chartered Ghana has assured customers that their deposits and funds remain secure despite the decision to explore the sale of its Wealth and Retail Banking (WRB) business as part of a global strategic review.
In a communication to customers following the announcement, the bank indicated that there would be no disruption to banking services during the transition process and urged customers to continue using their accounts and banking channels as usual.
“Your deposits and monies remain safe, and you can continue to perform banking transactions as per normal,” the bank said.
The reassurance comes after Standard Chartered PLC announced its intention to explore strategic options for its Wealth and Retail Banking business in Ghana as it sharpens its focus on businesses and client segments where it has the strongest competitive advantage.
Standard Chartered said the planned transaction remains subject to regulatory approvals and is expected to take between 18 and 24 months to complete.
During this period, customers will continue to receive banking services without interruption.
“You may have seen that Standard Chartered has announced its intention to explore options for the sale of its
Wealth and Retail Banking business in Ghana as part of its strategy to focus resources where it has the most distinctive client proposition,” the noticed added.
“Please be assured that we will continue to serve you as usual during the transition.”
The bank added that it is working closely with regulators and other stakeholders to ensure an orderly process with minimal disruption to customers.
“We are committed to managing this process with our key stakeholders to minimise any disruption to you. We will continue to update you on any relevant developments during the transition.”
The planned divestment forms part of Standard Chartered Group’s global strategy to optimise its portfolio and allocate capital to businesses where it enjoys greater scale and stronger returns.
Although the bank is exploring the sale of its retail banking operations, it has confirmed that its Corporate and Investment Banking business will continue operating in Ghana, maintaining its focus on multinational corporations, cross-border trade, infrastructure financing and institutional clients.
The group has described Ghana as an important market within its international network and says it continues to see long-term opportunities driven by trade, investment and capital flows.
The latest communication appears aimed at reassuring customers following concerns that typically accompany announcements involving changes in ownership within the banking sector.
Customers requiring further clarification have been encouraged to contact the bank directly through its customer support channels.
The proposed transaction remains subject to regulatory approvals, with the bank expected to provide further updates as the process advances over the coming months.
