Standard Chartered Bank Ghana has confirmed customer deposits remain safe and all banking services will continue without interruption. The bank provided this assurance in an email to customers dated Friday, June 26, 2026.
This announcement came after the bank revealed its intention to explore the sale of its Wealth and Retail Banking (WRB) business in Ghana. The planned sale process is projected to take between 18 and 24 months. Any potential transaction will require regulatory approvals before it can proceed.
This strategic move is part of Standard Chartered PLC's global decision to sharpen its focus on markets and client segments where it possesses greater scale. The bank aims to concentrate on areas where it has a distinct competitive advantage. This broader strategy involves a regular review of its financial portfolio. The decision does not affect Standard Chartered’s Corporate and Investment Banking (CIB) operations in Ghana.
Xorse Augustine Godzi, the Managing Director of Standard Chartered Bank Ghana, has been actively engaging clients since Thursday, June 25, 2026. He is explaining the process and addressing any concerns customers might have. Sources close to the bank indicate this disclosure is mandatory because Standard Chartered PLC is a listed company. Such strategic decisions must be communicated to the market.
The bank expects customers to conduct their normal banking transactions throughout the transition period without disruption. Standard Chartered has committed to managing this process carefully with stakeholders to minimise any inconvenience. The bank will continue to provide updates on relevant developments during the transition period.
Dr. Papa Kwesi Nduom, Founder and Chairman of Groupe Nduom, has publicly expressed interest in acquiring Standard Chartered Bank Ghana’s retail business. In a WhatsApp exchange, Dr. Nduom stated that Groupe Nduom would also consider listing the new entity on the Ghana Stock Exchange. He urged the Bank of Ghana to prioritise indigenous investors during any sale process, emphasising the importance of Ghanaian ownership for such ventures.
This potential sale could reshape Ghana's banking landscape, possibly increasing the footprint of indigenous banks. Decision-makers and market participants will closely watch for regulatory approvals and details of potential buyers. The outcome will influence the competitive dynamics within Ghana's financial sector and could provide opportunities for local financial institutions.