LILONGWE, JULY 25, 2024 – The Ministry of Finance says innovative and bespoke banking services hold key to achieving economic targets under Malawi 2063 vision.
Secretary to Treasury Betchani Tchereni said Tuesday evening when he officially launched Standard Bank’s revamped Private Banking services that such transformative offerings can contribute meaningfully to Malawi’s dream of a prosperous, industrialised and inclusively wealthy nation by 2063.
“This approach by Standard Bank is suitable for our economy, where there is need for more integration as we strive towards the Malawi 2063 Vision. The Ministry remains committed to supporting initiatives that promote innovation, customer satisfaction, and the overall stability of the financial system,” he said.
Tchereni commended Standard Bank for its commitment to innovation and customer-centricity, saying such principles are crucial in a dynamic and competitive banking environment.
“I would like to commend Standard Bank for its proactive approach in enhancing its private banking offering and responding to the need for transformation. Private banking services play a critical role in fostering financial stability and facilitating wealth management for high-net-worth individuals and families,” said Tchereni.
The ST vowed that the government would continue providing a conducive environment where financial service providers will excel and enable the growth of the country.
Standard Bank, listed on Malawi Stock Exchange, says it has revamped its private banking services to meet the growing needs of customers and deliver superior service locally and offshore.
“The new customer value proposition is designed to provide supreme financial solutions tailored to the unique needs of high-net-worth individuals and families. It combines personalized wealth management strategies with cutting-edge technology, ensuring seamless access to a comprehensive suite of financial solutions. These include discounts on air tickets with Emirates Airlines, accommodation with Sunbird Hotels, car hire with Avis, offshore investment arrangements, home improvement loans and family insurance, ” said Charity Mughogho, the Head of Personal and Private Banking
She said that the revamped services underscored the bank’s commitment to delivering financial services that enable growth for its customers.
“We remain dedicated to providing supreme service and creating lasting value for our clients in line with our core purpose, Malawi is Our Home, We Drive Her Growth,” she said
The restructured private banking services have been crafted with a deep understanding of client aspirations and goals.
“We recognize that our clients require more than just financial services; they seek trusted advisors who can offer tailored strategies to preserve and grow their wealth effectively. As such, the new propositions will continue to enhance growth of private banking clients and the economy,” he said.
Through the revamping of the private banking services, the bank aims to exceed expectations of its customers and strengthen their financial well-being.
“Standard Bank has been recognized by both Global Finance and Euromoney as the best private bank in Malawi and Africa; therefore, we are committed to continue providing superb financial solutions. At its core we have a full package of financial services, wealth management, insurance, renewable energy solutions, family banking and rewards,” added Mughogho.
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