Stanbic creates new business unit to maintain client base

Stanbic Bank . (Photo: Courtesy)

Stanbic Bank has created a new line of business that will see it put a range of its financial services accessible under one roof.

The new business unit dubbed, wealth will be accompanied by a financial literacy programme aimed at increasing the bank’s uptake of the over 150 products amid a customised market.

It is expected this will boost the wealth portfolio of the bank’s parent institution, Standard Bank Group, which stood at $134 billion (Sh13.5 trillion) as at December 2016.

The new unit will see Stanbic and its subsidiaries among them Liberty Life and Heritage Insurance provide financial services under one roof.