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Stanbic Bank Zambia has opened a new private banking suite at Kitwe’s Mukuba Mall.

The suite is aimed at giving the bank’s clients a full range of enhanced and more personal business banking products and services.

Speaking at the official opening of the facility, Bank Chief Executive, Leina Gabaraane, said private banking was created to provide  quick overdraft approval, vehicle asset finance, home loans, access to offshore wealth products, and convenient access to the dedicated, one-on-one services.

“Private banking was created to service the needs of men and women looking to build and connect their wealth to the world. All our private banking customers represent businesses and even though several of them are confined to Zambia, we pledge to be your partners as you expand into the rest of Africa,’ he said.

Mr. Gabaraane explained that due to tight schedules of most  business people, the bank  wants them to use the digital platforms and enjoy the convenience of banking at their own time.

He also reaffirmed the bank’s commitment to serving its clients to their satisfaction.

“In choosing to bank with us, our customers place many expectations on us, with the most paramount being not to take them for granted. An institution that takes clients for granted is one that does not see the need to continuously improve its services, invest in new technology and modern facilities like the private banking suite we are launching or indeed an institution that is unable to appreciate its customers, he added.

He further said that Stanbic  was on course to reinvent banking and make it relevant to every customer to help boost the sector’s growth as well as stimulate business and economic activity in the country.

“This is one of the reasons we decided to align our strategies, which include digitalisation, universal banking and client focus with the objectives of the National Financial Inclusion Strategy 2017-2022 (NFIS) which seeks to raise the financial inclusion level from 40 per cent  to 80 per cent by 2022,” he explained.

He applauded government for its willingness to involve private sector firms on its development agenda and for creating a conducive investment environment that puts Zambia in an advantageous position to achieve sustainable development and support investment in various sectors of the economy

Speaking at the same event, Copperbelt Province Permanent Secretary, Bright Nundwe, said the opening of the private banking suite by Stanbic Bank was important in  supplementing government efforts to spread development to all parts of the country and stimulate improved financial inclusion and increased business activity.

“Our goal is to foster prosperity for all our citizens and help them hedge against the negative effects of natural economic cycles. Formal financial services allow people to save effectively and invest in their growth,” said Mr. Nundwe.

Mr. Nundwe called upon other finance sector players to come to the fore and work with government to build infrastructure and provide modern services needed to propel the nation to the next level.


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