Published: 08 August 2013

STEWARD Bank, which was until recently a subsidiary of Lifestyle Holdings, will move out of Lifestyle Holdings premises by end of this year.

Sources close to the developments indicated last week that the bank would open a new branch at Eastgate Mall, Harare, in September while other branches would be rolled out country-wide in a phased manner, fingaz reported.

"Steward Bank wants to set up a distinct brand that has nothing to do with Lifestyle Holdings anymore. It will open its own branch at Eastgate centre this September and other branches country-wide and this might take them up to June next year," a source said.

It is understood that the bank also plans to roll out state-of-the-art Automated Teller Machines (ATMs) and is currently testing their functionality before installing and commissioning them.

Repeated efforts to get a comment from the bank's chief executive officer (CEO) Kwanele Ngwenya were fruitless.

The bank's executive assistant to the CEO, Kingdom Vellah, declined to comment on the matter.

Contacted for comment, Lifestyle Holdings chief executive officer Tawanda Nyambirai said: "I have no idea. Remember I sold the bank a long time ago so I wouldn't know what their strategies are at the moment."
- fingaz

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