Standard Chartered Considers African Expansion After Divestures

Standard Chartered Plc is considering expanding its presence in Africa to grow its wealth and transactions businesses, after spending the past three years exiting some of its smaller operations on the continent.

“Like we’ve gone and expanded in Egypt with a fully-fledged bank on the ground, we are looking at one or two other countries,” Chris Egberink, chief executive officer and head of banking & coverage, South Africa said in an interview in Johannesburg. “There’s a number of countries we are considering, and Morocco is one.”

The timing will depend on regulatory engagement, licensing, due diligence and client appetite, Egberink ...