Standard Chartered Bank Ghana is preparing to exit the retail banking market as part of a strategic review by its parent company, Standard Chartered PLC, aimed at concentrating on areas where the Group has a stronger competitive edge.
The bank announced that it is exploring the sale of its Wealth and Retail Banking (WRB) business in Ghana. The move forms part of a wider effort to streamline operations and focus on client segments where the bank believes it can deliver greater value and scale.
Despite the planned sale, Standard Chartered assured customers and stakeholders that its Corporate and Investment Banking (CIB) business in Ghana will remain fully operational. The bank said it will continue to support corporate clients through its extensive international network, cross-border capabilities and industry expertise.
Chief Executive Officer of Standard Chartered Bank Ghana and Head of Coverage, Xorse Godzi, described the retail banking division as a strong and successful franchise with a loyal customer base and dedicated staff.
“Our WRB business in Ghana is a strong franchise with an established client base and talented colleagues. We believe that it is well-positioned to continue to succeed under new ownership,” he said.
Mr. Godzi noted that the bank’s future growth strategy will focus on areas where it enjoys a distinct competitive advantage, particularly in international banking and cross-border transactions.
He stressed that Ghana remains an important market within Standard Chartered’s global network and continues to present significant opportunities driven by trade, infrastructure development and capital investment.
The proposed transition is expected to take between 18 and 24 months, subject to regulatory approvals. During this period, the bank says customers should expect normal operations to continue without disruption.
“Throughout the transition, it will be business-as-usual for clients as we work to ensure an orderly process with minimal impact on customer service,” Mr. Godzi added.
Bongiwe Gangeni, Head of Wealth and Retail Banking for Europe, Middle East and Africa at Standard Chartered, said the Group remains committed to allocating resources to businesses that deliver the strongest returns and strategic value.
According to her, the decision is part of efforts to build a more focused and impactful presence in Africa, leveraging regional hubs in Kenya and Nigeria while strengthening the bank’s corporate and investment banking operations across the continent.
Standard Chartered also reaffirmed its commitment to Africa’s economic growth, highlighting that it has invested US$300 million in technology and Africa-based ventures over the past five years. The bank further disclosed that it financed infrastructure projects worth US$5 billion across the continent in 2025 alone.
The proposed sale remains subject to regulatory approval, with further details expected as the process progresses.
