The bank will “operate as a separate bank, and we’re in the process of securing necessary approvals for the bank’s new name”.
FBC last year deposited US$34m into escrow to show “capacity” for the deal.
As at Dec 2022, FBC was Zim’s 4th biggest bank by loan book, accounting for 11% of loans (2021:10%). StanChart held 1.18% (from 3% in 2021).
![IMG 20240402 WA0068 Share](https://newsnest.co.za/wp-content/uploads/2024/04/IMG-20240402-WA0068.jpg)
FBC’s largest shareholders are NSSA (35%), Public Service Fund (11%), John Mushayavanhu (7% through his Tirent Investments)
<p>The post StanChart update on FBC takeover first appeared on Dandaro Online.</p>