Standard Chartered to sell East Africa HQ as it scales back presence 

Standard Chartered Plc, a British multinational bank, is selling its East African headquarters in Nairobi as part of a gradual reduction of its physical office footprint across select markets. 

Its local subsidiary, Standard Chartered Bank Kenya Ltd, has put the seven-storey building on 1.88 acres in a prime area of the capital up for sale. The bank had already sold two other properties in Kenya last year as part of the same review of its real estate holdings. 

The lender said the decision is not linked to its business outlook in Kenya.

“It does not signal any change in the bank’s operating presence or long-term strategic commitment to Kenya,” the bank said, adding that the move reflects “a strategic property and capital optimization initiative arising from a broader space-efficiency program.”

Standard Chartered trims Africa & Middle East exposure 

Since April 2022, Standard Chartered has been trimming its presence in parts of Africa and the Middle East as it concentrates on wealth management and cross-border banking. 

It has exited 10 markets, including Zimbabwe, Angola, Jordan, Lebanon, Zambia and Tanzania. At the same time, it has maintained and, in some cases, expanded its footprint in North Africa, including new offices in Egypt and Morocco. 

Despite the changes, the bank said its long-term commitment to Kenya remains unchanged. “Standard Chartered Kenya remains fully committed to the Kenyan market, where it has proudly operated for over 110 years,” it said.

Long history in Kenya and global footprint 

Standard Chartered operates in 54 markets across Asia, Africa and the Middle East, serving corporate, institutional and retail clients, with a focus on trade finance, wealth management and cross-border transactions. 

In Kenya, the bank opened its first branch in 1911 at Mombasa’s Treasury Square and was listed on the Nairobi Securities Exchange in 1989. It currently has just under 25% public shareholding, more than 30,000 shareholders, 22 branches, 107 ATMs and over 1,000 employees. 

The London-headquartered lender, which has operated for more than 170 years, reported operating income of $5.9 billion in the first quarter of 2026, up 9%. Net interest income rose 1% to $2.9 billion, while profit before tax stood at $2.5 billion.