British multinational bank Standard Chartered Plc is eyeing an African expansion, with Morocco among the countries it is considering. «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, CEO and Head of Banking & Coverage, South Africa, told Bloomberg on Tuesday. «There are a number of countries we are considering, and Morocco is one», he revealed. The timing of the planned expansion will depend on regulatory approvals and client interest, Egberink added. The move is part of Standard Chartered's broader strategy to shift its focus toward wealth management and cross-border transactional services. Since April 2022, the London-based lender has exited several markets—including Zimbabwe, Angola, and Jordan—and is currently seeking to divest its retail banking operations in Botswana, Uganda, and Zambia. Despite scaling back in some regions, the bank expanded its footprint in Egypt last year. Standard Chartered also maintains a strong presence in South Africa, where it is involved in sectors such as metals and mining, retail, manufacturing, construction, and water treatment.
