The Securities and Exchange Commission – SEC first quarter (Q1) report on the Equity Market Performance has revealed that British bank Zambian unit – Standard Chartered Bank Zambia Plc ( SCBL) has recorded a drop in share price of a staggering 17% for Q1 2025.
The Bank whose price at the beginning of the 1st quarter 2025 was standing K2.65 per share and had its closing price at the end of the first quarter of 2025 standing at K2.20 per share, indicating a price drop of 45 Ngwee per share and ultimately recording 17% drop in terms of market price.
When contacted for a comment by the Zambian Business Times – ZBT, Stanchart Head of Corporate Affairs, Brand & Marketing, Christine Matambo requested for more time to get approval from the Chief Financial officer – CFO to give reasons for the steep drop in share price within a quarter.
Stanchart group in late November 2024 announced it’s plans to exit the Zambia wealth and retail business in Zambia and other countries.
