Regional Bank of the Year understands Africa’s complex banking scene
12 December 2016. Johannesburg – The Standard Bank Group has been awarded ‘Regional Bank of the Year – Africa’ by the Banker magazine for 2016. The bank is also the ‘Bank of the Year’ in Botswana, Malawi, South Africa, Swaziland, Tanzania and Uganda.
Says Sim Tshabalala, the CEO of the Standard Bank Group: “We are delighted to have received these awards which recognise our sustained investment in understanding Africa’s complex and varied banking, transaction and regulatory landscapes – from a client perspective.”
The Banker magazine’s judging panel reported that Standard Bank Group’s operations in these six African countries had made the most progress over the 12 months – not only in terms of strong financials, but also in the wide range of initiatives which Standard Bank undertook during this period.
In particular the awards recognised the strong management, sound business model and clear and effective strategy delivered consistently by the banking group across multiple jurisdictions.
“These awards correctly reflect our ability to serve clients across the continent through our physical network in Africa – and by linking Africa to markets and investors in the rest of the world,” said Tshabalala.
Standard Bank operates in 20 markets across the continent and in major global financial centres. The bank says it blends its global capabilities with local insights through established relationships that deliver a truly universal banking proposition to private, wealth, business, corporate and sovereign clients across the continent.
The Industrial and Commercial Bank of China (ICBC), the world’s biggest bank, holds a 20% share in the Standard Bank Group. Through ICBC Standard Bank provides renminbi trading across the continent, linking Africa with the world’s fastest growing economies.