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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Standard Chartered    STAN   GB0004082847

STANDARD CHARTERED

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VIDEO: StanChart comes up with online banking solution

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02/22/2019 | 05:48am EST

Dar es Salaam. Standard Chartered Bank Tanzania yesterday launched its fully-digital online banking solution that will give clients access to over 70 self-service requests, making banking more accessible, hassle-free and convenient.

The bank’s chief executive officer, Mr Sanjay Rughani, told reporters that with Standard Chartered’s digital solution, anyone can join the bank by downloading the SC Mobile Tanzania App.

In Africa, Tanzania becomes the third country, after Cote d’Ivoire and Uganda to adopt the technology.

Tomorrow and next month the same would be launched in Ghana and Kenya respectively.

“A client can, within 15 minutes, open a new account, through the SC Mobile Tanzania App without visiting the bank’s branches,” said Mr Rughani.

This, he added, would enable the bank’s clients to enjoy benefits such as zero fee on bill payment, zero monthly ledger, no minimum balance, free initial ATM cards and zero fee on the Standard Chartered to Standard Chartered Online Bank transfers.

“This is a key milestone on our digital journey as a bank and underlines our commitment to continue steadily investing in modern technology, build systems and up skill our people whilst tapping into our global expertise to make digitisation a reality,” noted Mr Rughani

The bank’s head of retail banking, Mr Ajmair Riaz said: “Clients today are looking for products and partners who will offer solutions that are accessible, convenient, cost- effective and, most importantly, forward looking.”

The bank’s regional head of retail banking for Africa and the Middle East, Jaydeep Gupta, and the bank’s head of digital banking for Africa said the bank geared to giving clients more flexible banking options.

The bank also announced one of Tanzania’s songsters, Vanessa Mdee, as its ambassador for the App.

Globally Standard Chartered Group invested some $1.5 billion (Sh3.4 trillion) in technology over the past three years.

(c) Mwananchi Communications 2019. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 15 066 M
EBIT 2018 4 242 M
Net income 2018 1 877 M
Debt 2018 -
Yield 2018 2,56%
P/E ratio 2018 14,16
P/E ratio 2019 10,46
Capi. / Sales 2018 1,76x
Capi. / Sales 2019 1,67x
Capitalization 26 467 M
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 22
Average target price 8,66 $
Spread / Average Target 8,3%
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Managers
NameTitle
William Thomas Winters Group Chief Executive Officer & Director
José Viñals Chairman
David Whiteing Chief Operating Officer
Andrew Nigel Halford Group Chief Financial Officer & Executive Director
Michael Gorriz Group Chief Information Officer
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