Standard Chartered Bank Zambia one of the banks listed on the Lusaka Securities Exchange—LuSE, is reported to have recorded a drop in profit by 36% year-on-year. A renowned securities broker has attributed the reduction in the company’s financial performance to the company selling off its retail banking. According to information made available to Zambian Business Time, ZBT shows that the bank’s profit after tax was recorded at K103 million, down by 36% yearon-year, as the bank’s revenue decreased by 6% to K631 million due to lower interest and non-interest at income from reduced corporate asset utilization and wealth solutions fees....
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