Zimbabwe's CTC approved FBC Holdings' acquisition of Standard Chartered Bank Zimbabwe without conditions.
Zimbabwe's Competition and Tariff Commission (CTC) approved FBC Holdings' (FBCHL) acquisition of Standard Chartered Bank Zimbabwe (StanChart) without conditions, making it one of the largest banks in the country. The CTC assessed the market for commercial banking and custodial services, concluding that the merger wouldn't harm competition or create a monopoly, and won't influence market entry or expansion conditions.
March 13, 2024
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