Sunil Kaushal, Regional CEO of Standard Chartered Bank for Africa and the Middle East, visits Cameroon.
By Joseph Roland Djotie
The Standard Chartered Bank Cameroon is a bank in full growth. Sunil Kaushal, the Regional CEO of Standard Chartered Bank, made that observation, last February 14, 2017 in Douala at the end a two-day working visit in Cameroon. Sunil Kaushal was appointed Regional CEO of the group for Africa and the Middle East on 1 October 2015, and is based in Dubai, United Arab Emirates. Before his appointment, Sunil was the Regional CEO for India and South Asia. He has more than 20 years of banking experience in various markets and has worked with the Standard Chartered Group for more than ten years. As a graduate of the Harvard Business School, Oxford University and London Business School, Sunil Kaushal is the head of 25 countries and markets of the Standard Chartered Bank Group.
Sunil Kaushal, who paid his first visit to Cameroon since his appointment to that post on 1 October 2015, was accompanied on this occasion by Mrs. Bola Adesola, CEO of Standard Chartered Bank Nigeria and the Regional CEO for West Africa (Nigeria, Cameroon, Cote d’Ivoire, Ghana, The Gambia and Sierra Leone). As one of the most prominent figures in the group, Sunil said he had chosen to visit the Cameroonian subsidiary of the group, because of its importance within the group. During his stay in Cameroon from 13 to 15 February 2017, the Africa and Middle East Regional CEO of the Standard Chartered Bank Group also paid a visit to a few clients of the Cameroonian subsidiary. An occasion during which, he pointed out the business opportunities offered by Cameroon in the fields of energy, road, hotel, tourism and other infrastructures. He also attended a meeting with all the staff, appreciated the great enthusiasm of the local staff, who works on a daily basis to allow the subsidiary to stand out.
On the 14th of February 2017 in Douala, during a dinner with the subsidiary’s customers, Sunil Kaushal made it clear that Standard Chartered Bank Cameroon is performing well despite the economic crisis in the Central African sub-region (CEMAC). In the presence of Alain Malong, general manager of Allucam, Philisiwe Sibiya, CEO of MTN Cameroon and others, Sunil Kaushal added that he leaving Cameroon, satisfied with the performance of the Standard Chartered Bank Cameroon. “I believe very much in the potential of Cameroon. The banking sector is dynamic and i think it is a profitable business. I have come to reassure the staff of the Standard Chartered Bank Cameroon about the support of the highest hierarchy. Standard Chartered Bank Cameroon remains an important subsidiary to our group. Despite the difficult international business climate, the Cameroonian subsidiary has shown resilience. It even made profits in 2015. And despite the restructuring that led to the suppression of jobs within the group in recent months, our subsidiary in Cameroon managed was able to resist these difficulties, “he said.
Managed by Chuks Ugha, CEO of Standard Chartered Bank Cameroon since 2015, this subsidiary of the group achieved, in 2015, a turnover (CA) of $ 38.1 million (about 22.8 billion FCFA) ; against a turnover of 31 , $ 9 million in 2014 (approximately CFAF 19.1 billion). “The overall data shows that the business is growing at full growth. Especially as since in 2008, Standard Chartered Bank Cameroun could only achieve only a turnover of $ 18.9 million (11.3 billion CFA francs) “, a bank executive hinted The Sun.
