Standard Chartered Bank, a financial services provider, has declared that it will end its relationship with clients who do not have N7.5 million in assets under management (AUM) as of February 28, 2026.
According to the bank, this is consistent with its recently established Emerging Affluent Segment. It was revealed in a notice stating: “Important notice: Branch network and segment update.”
The notice partly reads: “Accounts without the minimum balance by the deadline will be closed.”
According to the bank, the AUM will be introduced and the personal banking segment under which customers are banked will be closed as part of its updated structure. In keeping with its continuous efforts to improve services and customer value propositions, it also announced that it would be closing some of its branches as of January 15, 2026.
Continuing, the notice reads: “These closures also build on our digitisation efforts, which commenced a few years ago, to streamline our processes, operating channels, products and service solutions, and efficiently utilise resources to suit the expectations and evolving needs of our clients.”
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The bank promised that, in accordance with the N200 billion minimum capital requirement set by the Central Bank of Nigeria (CBN) for national commercial banks, it will continue to be suitably positioned to assist and assist its clients in realising their financial ambitions, BrandSpur banking and finance news desk reports.
According to the company, its mobile and online banking platforms are still fully functional, enabling users to access a variety of services, manage accounts, and conduct transactions from the convenience of their homes or workplaces. The bank stated that its branches in Rivers State, Lagos, and Abuja would continue to operate.
