AMMAN —
Standard Chartered Bank announced in a press statement Thursday it will be
ending its operations in Jordan as part of a decision to reduce its activities
in the
Middle East and Africa to focus on more profitable markets, according to
Alsaa.net.
اضافة اعلان
The bank will additionally suspend its operations
entirely in Angola, Cameroon, the Gambia, Lebanon, Sierra Leone, and
Zimbabwe and will suspend its retail banking activities in Tanzania and the Ivory Coast
to focus solely on corporate banking.
The move marks a major shift for the bank, which was one
of the largest European banks to invest in the region in the past few years, at
a time when other banks withdrew.
The bank said limiting its activities will allow it to
focus on larger and faster-growing economies in the region such as
Saudi Arabia, where it opened its first branch, as well as Egypt.
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