Its consumer banking unit ran a highly successful deposit mobilisation campaign in which customers were encouraged to increase their savings and were then entered into a raffle. More than $19m in deposits was raised in four months. The bank’s personal loans portfolio ran a campaign that allowed existing customers to top up their loans. This action increased the personal loan book by 29%.
The wholesale bank extended a large amount of funding to the productive sector and grew its loan portfolio by an impressive 117% in the year.
Standard Chartered also introduced the market’s first Visa Platinum Card, which marked a huge step forward in the Zambian debit card market. With its enhanced features, the card has helped to drive the top-end customer base.
Express Trade, a trade finance service launched by the consumer banking unit, has proved successful and helped to maintain the strong momentum in that business segment. The bank’s new mortgage product also showed itself to be a highly competitive initiative and encouraged other institutions to offer similar products.
In line with the bank’s commitment to community partnership, it distributed 60,000 insecticide mosquito nets in several communities and 500 pairs of spectacles, and contributed to the eyesight restoration of 110 blind people through its Seeing is Believing programme. Under its Living with HIV programme, Standard Chartered provided free antiretrovirals to its employees, their spouses and children.
“I am delighted to receive the 2007 Bank of the Year award for Zambia on behalf of all staff and our valued customers and stakeholders,” says chief executive Tom Aaker. “This is now the fourth time in five years that Standard Chartered Bank Zambia has won this prestigious [prize] and it is a clear testament of our performance in delivering outstanding financial results and in being the ‘Right Partner - Leading by Example’ for all our stakeholders in Zambia. I would like to thank my colleagues in Standard Chartered Bank Zambia for their invaluable contribution in making this achievement possible.”
