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Standard Chartered has decided to cease operations in Cameroon due to unprofitability. The announcement was issued in a statement from the company.
Installed in Cameroon since 1986, Standard Chartered Bank, announces that it will cease operations in several countries, including Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe. The Bank's activities in these countries were found to be unprofitable. The Bank's result here for several years has been negative. The Bank is also considering leaving Tanzania and Côte d'Ivoire. For the time being, it will cease its retail banking activities for individuals and focus only on companies.
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