Proven ability to manage cross-border transactions underscores special relationship with Chinese businessmen
The shareholding ties between the Standard Bank Group and the Industrial and Commercial Bank of China Ltd, make Standard Bank’s Namibian operation the preferred point of contact for the local Chinese business community.
The importance of this link into the Chinese banking system was vividly demonstrated recently when more than 20 local Chinese businessmen and women attended a formal engagement session with the Corporate and Investment Banking division in Standard Bank.
The head of Corporate and Investment Banking, Anne Juuko, said their relationship with the local Chinese business community is based on the 10-year relationship between the Standard Bank Group and the Industrial and Commercial Bank of China.
“The marriage between ICBC and Standard Bank has created a platform to serve the growing demands of Chinese clients for global commodities, fixed income, currency and equities products while continuing as a distribution platform for African risk,” she stated.
Additionally, she stressed that meeting with their Chinese clients informs them how best to serve the Chinese community, acknowledging that how they do their business is different and through these types of engagements they can grow together.
The head of Client Coverage at the Corporate and Investment Banking division, Adri Spangenberg, said “With the continuous deepening of the friendly and cooperative relations between Namibia and China, more and more Chinese corporations have come to Namibia with their investments and expertise.”
He said that Standard Bank’s strategic relationship with ICBC which is China’s largest bank by assets, extends their ability to facilitate and finance trade flows between Namibia and China. “Standard Bank has proven cross-border transaction capability, connecting its clients to growing trade and investment flows between emerging and developed markets.”