Zambia

Standard Chartered Zambia pips the competitors to the post with a solid set of financial figures for 2003, backed by innovative product roll-out and industry-leading corporate social responsibility initiatives. Net profits in 2003 were up 24%, flowing through to a return on equity of 48%. Both represent healthy improvements on the previous year. Tier 1 capital and assets were up 12% and 13% respectively. Last year, Standard Chartered launched the first Visa Electron debt card in Zambia. And it was the first to provide a toll-free call centre, providing a low-cost option for customers to access financial services. The new Agribusiness Unit increased lending to agricultural projects, a deft strategic move given the government’s intensifying focus on agriculture sector development. Standard Chartered’s commitment to community projects also shone through, with an ongoing HIV/Aids initiative, as well as other healthcare programmes. “Our philosophy at Standard Chartered Bank is to lead the way in everything we do, ranging from our commitment to our people, customers and the community to working in harmony with investors and regulators,” says MD Thomas Aaker.