Why StanChart Signed Off Wealth and Retail Banking Business in Uganda to Absa ?

Why StanChart signed off wealth and retail banking business in Uganda to Absa ?

Absa says the deal will enable it to deepen its presence in key markets, broaden service offerings

Absa Bank Uganda to Acquire Standard Chartered’s Wealth and Retail Unit

Absa Bank Uganda has entered into a definitive agreement to acquire the Wealth and Retail Banking (WRB) business of Standard Chartered Bank Uganda. In a market update issued Friday, Absa Group confirmed that the acquisition aligns with its broader ambition to deepen its footprint across the continent and enhance its retail and wealth management offerings. [...] The post Absa Bank Uganda to Acquire Standard Chartered’s Wealth and Retail Unit appe…

Absa gets nod to buy Standard Chartered Uganda’s retail, wealth business

Absa Group, the Johannesburg-based financial services provider, led by banking veteran Kenny Fihla, has secured the go-ahead from regulators to take over the retail and wealth operations of Standard Chartered Bank Uganda through its banking unit in the country. This move underscores one of the biggest shakeups in the country’s banking scene in years as Absa Group’s unit makes its first retail acquisition in Uganda, adding new clients, products, …

Standard Chartered to sell Ugandan retail banking arm to Absa

UK-based Standard Chartered has reportedly agreed to divest its wealth and retail banking operations in Uganda to Absa Group, a South African financial institution, for an undisclosed sum.  Under the terms of the deal, Absa Bank Uganda will acquire Standard Chartered’s retail and wealth management portfolios in Uganda.  This sale is part of Standard Chartered’s strategy to exit its wealth and retail banking sectors in Botswana, Uganda, and Zambi…