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What's Your Next? | Standard Bank
Published: 2017/05/29
Channel: Standard Bank
Standard Bank 2016
Standard Bank 2016
Published: 2016/04/26
Channel: CareersSA
Standard Bank Corporate and Investment Banking CIB Graduate Programme
Standard Bank Corporate and Investment Banking CIB Graduate Programme
Published: 2015/03/24
Channel: Standard Bank Group
Sim Tshabalala Joint CEO speaks on his legacy at Standard Bank
Sim Tshabalala Joint CEO speaks on his legacy at Standard Bank
Published: 2015/08/18
Channel: CNBCAfrica
What it
What it's like to be accepted into the Standard Bank Graduate programme
Published: 2016/02/12
Channel: Standard Bank Group
Standard Bank – powering African capital markets – one deal at a time
Standard Bank – powering African capital markets – one deal at a time
Published: 2017/01/16
Channel: Standard Bank Group
Never stop moving forward  Standard Bank IRONMAN South Africa advert 2015
Never stop moving forward Standard Bank IRONMAN South Africa advert 2015
Published: 2016/01/11
Channel: Standard Bank
Standard Bank: Where
Standard Bank: Where's My Money?
Published: 2015/08/17
Channel: Yazeed Kamaldien
Standard Bank 2017
Standard Bank 2017
Published: 2017/05/17
Channel: CareersSA
Never Stop Moving Forward
Never Stop Moving Forward
Published: 2016/08/12
Channel: Standard Bank Group
Standard Bank | Smart App
Standard Bank | Smart App
Published: 2016/10/17
Channel: Standard Bank Group
Standard Bank Commercial - Flow
Standard Bank Commercial - Flow
Published: 2014/11/05
Channel: Honeymoon Studios
GTA 5 - LSPDFR SWAT - Episode #76: SWAT Patrol 16: Pacific Standard Bank Heist
GTA 5 - LSPDFR SWAT - Episode #76: SWAT Patrol 16: Pacific Standard Bank Heist
Published: 2016/06/22
Channel: AlphaWhiskeySix
Standard Bank - Shaboom
Standard Bank - Shaboom
Published: 2013/01/15
Channel: TBWA\Africa
Standard Bank - The Man Who Couldn
Standard Bank - The Man Who Couldn't Stop Moving Forward / Slim (Egg Films)
Published: 2016/01/18
Channel: Egg Films
Standard Bank  |  Digital Transformation
Standard Bank | Digital Transformation
Published: 2016/02/02
Channel: ThoughtWorks
2017 Standard Bank IRONMAN 70.3 Durban Race Day Highlights
2017 Standard Bank IRONMAN 70.3 Durban Race Day Highlights
Published: 2017/06/21
Channel: Ironman South Africa
Learn how to place and monitor an order with Standard Online Share Trading
Learn how to place and monitor an order with Standard Online Share Trading
Published: 2014/11/05
Channel: Standard Bank Group
Standard Bank ups dividend despite profit drop
Standard Bank ups dividend despite profit drop
Published: 2016/08/19
Channel: Business Day TV
GTA V: Pacific Standard Bank Heist- All the Money!!!- On the Bikes- No Kuruma- No Cheating
GTA V: Pacific Standard Bank Heist- All the Money!!!- On the Bikes- No Kuruma- No Cheating
Published: 2015/04/19
Channel: The SmackDown Centre
Standard Bank Group: Corporate and Investment Banking capabilities
Standard Bank Group: Corporate and Investment Banking capabilities
Published: 2016/05/16
Channel: Standard Bank Group
Standard Bank Young Artist Award 2017 - Monageng “Vice” Motshabi (theatre)
Standard Bank Young Artist Award 2017 - Monageng “Vice” Motshabi (theatre)
Published: 2016/10/26
Channel: National Arts Festival
Top Billing attends the Standard Bank Private Banking Signature launch | FULL INSERT
Top Billing attends the Standard Bank Private Banking Signature launch | FULL INSERT
Published: 2016/03/25
Channel: sabc3topbilling
GTA 5 Pacific Standard Bank Heist Strategy Guide - "MAX CASH ROUTE" No Elite Bonus
GTA 5 Pacific Standard Bank Heist Strategy Guide - "MAX CASH ROUTE" No Elite Bonus
Published: 2015/03/14
Channel: LeAristocrat Nation
GTA 5 Online HEISTS - The Pacific Standard Job BANK HEIST! (GTA V Online)
GTA 5 Online HEISTS - The Pacific Standard Job BANK HEIST! (GTA V Online)
Published: 2015/03/14
Channel: XpertThief
Africa perspectives from Standard Bank - making a real impact on the continent
Africa perspectives from Standard Bank - making a real impact on the continent
Published: 2017/05/03
Channel: Standard Bank Group
CFDs on Standard Bank Webtrader
CFDs on Standard Bank Webtrader
Published: 2015/03/16
Channel: Standard Bank Group
2017 Standard Bank IRONMAN 70.3 South Africa Race Day Highlights
2017 Standard Bank IRONMAN 70.3 South Africa Race Day Highlights
Published: 2017/02/06
Channel: Ironman South Africa
Standard Bank: Our DevOps Journey - ChefConf 2015
Standard Bank: Our DevOps Journey - ChefConf 2015
Published: 2015/04/10
Channel: Chef
🔥Gta 5 online-*Pacific Standard Bank Heist Glitch (STILL WORK)PS4/XBOX/PS3/XBOX1/PC🔥
🔥Gta 5 online-*Pacific Standard Bank Heist Glitch (STILL WORK)PS4/XBOX/PS3/XBOX1/PC🔥
Published: 2017/01/27
Channel: RockStarDidIt
Standard Bank
Standard Bank's landmark transaction with Famous Brands
Published: 2016/11/14
Channel: Standard Bank Group
South Africa
South Africa's Standard Bank loses R300 million in card scam
Published: 2016/05/23
Channel: SABC Digital News
2017 Standard Bank IRONMAN African Championship Race Day Highlights
2017 Standard Bank IRONMAN African Championship Race Day Highlights
Published: 2017/05/03
Channel: Ironman South Africa
Standard Bank: Banking for the Unbanked
Standard Bank: Banking for the Unbanked
Published: 2015/02/11
Channel: SAP
Standard Bank Young Artist Award Winners for Visual Art - MOHAU MODISAKENG
Standard Bank Young Artist Award Winners for Visual Art - MOHAU MODISAKENG
Published: 2015/10/29
Channel: Standard Bank Group
GTA 5 Online-*Pacific Standard Bank Heist Glitch 🙀 Under The Map With Bikes (NEW METHOD INSANE)
GTA 5 Online-*Pacific Standard Bank Heist Glitch 🙀 Under The Map With Bikes (NEW METHOD INSANE)
Published: 2017/03/07
Channel: RockStarDidIt
Gta 5-How to get inside Pacific standard bank vault next gen
Gta 5-How to get inside Pacific standard bank vault next gen
Published: 2015/05/17
Channel: nike-fan-isaacve HD
Standard Bank School Boat Races
Standard Bank School Boat Races
Published: 2016/12/10
Channel: RailTime Photo
Standard Bank Incubator: Entrepreneurship & Innovation
Standard Bank Incubator: Entrepreneurship & Innovation
Published: 2016/10/24
Channel: Standard Bank Group
StandardBank i - Interview
StandardBank i - Interview
Published: 2014/06/06
Channel: Elevator Agency
Standard Bank Graduate Programmes
Standard Bank Graduate Programmes
Published: 2015/03/24
Channel: Standard Bank Group
The Standard Bank Proteas vs The Springboks  T20
The Standard Bank Proteas vs The Springboks T20
Published: 2017/01/17
Channel: ProteasCricket
Standard Bank Corporate and Investment Banking – leading the way for business in Africa
Standard Bank Corporate and Investment Banking – leading the way for business in Africa
Published: 2016/10/14
Channel: Standard Bank Group
Multi-Currency trading with Standard Bank Webtrader
Multi-Currency trading with Standard Bank Webtrader
Published: 2015/09/02
Channel: Standard Bank Group
Standard Bank Group
Standard Bank Group's 2015 Financial Results
Published: 2016/03/03
Channel: Standard Bank Group
Standard Bank Young Artist Award 2017 - Dineo Bopape (performance art)
Standard Bank Young Artist Award 2017 - Dineo Bopape (performance art)
Published: 2016/10/26
Channel: National Arts Festival
Standard Bank IRONMAN African Championship 2015
Standard Bank IRONMAN African Championship 2015
Published: 2015/05/08
Channel: Ironman South Africa
GTA ONLINE - The Pacific Standard Bank komplett
GTA ONLINE - The Pacific Standard Bank komplett
Published: 2015/04/03
Channel: MafuyuX
Standard Bank - Tablets / Slim (Egg Films)
Standard Bank - Tablets / Slim (Egg Films)
Published: 2014/03/19
Channel: Egg Films
Standard Bank Wealth and Investment: Portraits
Standard Bank Wealth and Investment: Portraits
Published: 2015/12/18
Channel: Standard Bank Group
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WIKIPEDIA ARTICLE

From Wikipedia, the free encyclopedia
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The Standard Bank
of South Africa Limited
Public
Traded as JSE: SBK
Industry Banking
Founded 15 October 1862; 154 years ago (1862-10-15)[1]
Headquarters Johannesburg, South Africa
Area served
Africa
Key people
Thulani Gcabashe
Chairman
Sim Tshabalala
Joint Chief Executive
Ben Kruger
Joint Chief Executive
Products Commercial Banking
Foreign Currency Exchange
Insurance
Investment Banking
Investment Management
Private Banking
Consumer Banking
Wealth Management
Revenue Decrease US$ 16.2 Billion (2015)
Increase US$ 1,6 Billion (2015)
Total assets Increase US$ 164.7 Billion (2015)
Number of employees
69,000 (2015)
Website standardbank.com

The Standard Bank of South Africa Limited is one of South Africa's largest financial services groups, operating in 20 countries across Africa and other key markets around the world.

History[edit]

The bank now known as Standard Bank was formed in 1962 as a South African subsidiary of the British overseas bank Standard Bank, under the name The Standard Bank of South Africa.

The bank's origins can be traced to 1862, when a group of businessmen led by the prominent right-wing South African politician John Paterson[3][4] formed a bank in London, initially under the name Standard Bank of British South Africa. The bank started operations in 1863 in Port Elizabeth, South Africa, and soon after opening it merged with several other banks including the Commercial Bank of Port Elizabeth, the Colesberg Bank, the British Kaffrarian Bank and the Fauresmith Bank.

It was prominent in financing and development of the diamond fields of Kimberley in 1867. The word "British" was dropped from the title in 1883. When gold was discovered on the Witwatersrand, the bank expanded northwards and on 11 October 1886 the bank started doing business in a tent at Ferreira's Camp (later to be called Johannesburg), thus becoming the first bank to open a branch on the Witwatersrand gold fields. On 1 November 1901 a second branch was opened in Eloff Street of Johannesburg.

Standard Bank in Adderley St, Cape Town

Until 1962 the British bank was formally known as the Standard Bank of South Africa, although by then its operations spread across Africa. When the South African operations were formed into a subsidiary in 1962, the parent changed its name to Standard Bank Limited, and the South African subsidiary took its parent's previous name.

In 1967 shares in the Standard Bank of South Africa were offered to the South African public, although the British parent company retained over 80% of the shares.[5]

The parent bank merged in 1969 with Chartered Bank of India, Australia and China and the combined bank became known as Standard Chartered Bank. In 1969 the Standard Bank Investment Corporation (now Standard Bank Group) was established as the holding company of the South African bank. During the 1970s and 1980s Standard Chartered gradually reduced its shareholding, and sold its remaining 39% stake in Standard Bank Group in 1987, transferring complete ownership of the holding company to South African investors.[5]

Expansion and acquisitions[edit]

Africa[edit]

In 1992 the bank acquired the operations of ANZ Grindlays Bank in eight African countries. Most of the newly acquired banks were renamed Stanbic Bank, to avoid confusion with the former parent (and now competitor), Standard Chartered. Several more banks in Africa were acquired during the 1990s, and adopted the Stanbic name.[5]

Ivory Coast[edit]

In February 2014, Standard Bank Group is expected to open a representative office in Abidjan, Ivory Coast, marking the entry of the banking conglomerate into Francophone West Africa. Ivory Coast becomes the 19th African country where Standard Bank maintains a subsidiary.[6]

Malawi[edit]

In December 2001, Standard Bank acquired 60.18% holding in the Commercial Bank of Malawi and became a majority shareholder. The bank was renamed Standard Bank Malawi.

Mozambique[edit]

Standard Bank SARL ("SBM") has a long history and is considered one of the leaders of the local market. Already active in Mozambique for 120 years. The network's Standard Bank is one of the largest in the country. Covers all major towns and cities of Mozambique, with 44 branches.[7]

Namibia[edit]

Standard Bank in Windhoek

The Standard Bank Namibia is largely detached from the South African parent company for legal reasons. The bank was established in Namibia by the first commercial branch in 19 August 1915 in Lüderitz. It's one of the largest banks in Namibia and operates from more than 50 branches.[8]

Nigeria[edit]

On 21 August 2007 Standard Bank Group acquired controlling interest in IBTC Chartered Bank. founded by the merger of the International Banking & Trust Co. plc and Chartered Bank plc. This gave subsidiary Stanbic IBTC Holdings significant presence in the Nigerian market.

Tanzania[edit]

Stanbic Bank building in Dar es Salaam, Tanzania.

In 1995, the bank acquired the operations of the Meridien BIAO Bank and renamed it to Stanbic Bank Tanzania Limited.[5]

Uganda[edit]

In 2002, Standard Bank acquired 90% of Uganda Commercial Bank, the largest commercial bank in Uganda at that time, making Standard Bank a major actor in the banking sector of that East African country. They renamed the bank Stanbic Bank (Uganda) Limited. As of December 2012, Stanbic Bank (Uganda) was still Uganda's largest commercial bank with approximately 20% of all bank assets and about 18% of all bank branches in the country.[9] The stock of Stanbic Bank (Uganda) Limited is traded on the Uganda Securities Exchange (USE) under the symbol SBU. Standard Bank Group maintains approximately 80% shareholding.[10]

International[edit]

United Kingdom[edit]

In the early 1990s the bank started operations in London, and Standard Bank London Ltd was awarded a banking licence in 1992.[5]

It was announced at the end of July 2013 that Standard Bank was in talks to sell its markets business in London to the Industrial and Commercial Bank of China for more than $500 million.[11] In November 2013, Standard Bank confirmed it was in talks to sell a controlling stake in its London-based global markets business.[12]

In January 2014 the Financial Conduct Authority (FCA) fined Standard Bank PLC (Standard Bank) £7,640,400 for failings relating to its anti-money laundering (AML) policies and procedures over corporate customers connected to politically exposed persons (PEPs). Between 15 December 2007 and 20 July 2011, Standard Bank failed to comply with Regulation 20(1) of the Money Laundering Regulations because it failed to take reasonable care to ensure that all aspects of its AML policies were applied appropriately and consistently to its corporate customers connected to PEPs.[13]

Argentina[edit]

In 2006, Standard Bank bought BankBoston Argentina unit expanding its operations into this country. In 2012, ICBC acquired 80% of its shares. Rebranding occurred on April 2013.

Isle of Man[edit]

Standard Bank has operations in the Isle of Man. [1]

Jersey[edit]

Standard Bank has operations in Jersey.

Standard Bank in Jersey

Turkey[edit]

Also in August 2007, Standard Bank Group acquired a 67% share of the Turkish bank Dundas Ünlü Securities and now operates in Turkey under the name of Standard Ünlü. The Bank sold its shares down to 25% in April 2012 and the Turkish sub was renamed ÜNLÜ & Co. afterwards.

Russia[edit]

On 6 March 2009, Standard Bank announced plans to acquire 33% of Russia's second biggest investment bank, Troika. Troika, which is Russia's oldest brokerage, will acquire Standard Bank's current Russian banking operation, and will in addition receive cash of $200-million in the form of a 'convertible loan'[2]. Two executives of Standard Bank will join Troika's six-member board.

Investments in Standard Bank[edit]

Loan Deal with Chinese banks[edit]

On 11 September 2009 Industrial and Commercial Bank of China, Industrial and Commercial Bank of China (Macau), Bank of China, China Development Bank, China CITIC Bank initiated $1Billion club loan to Standard Bank.[14]

ICBC Deal[edit]

In October 2007 the Industrial and Commercial Bank of China acquired a stake of about 20% in Standard Bank for US$5.5bn. Half the stake came from ICBC acquiring existing shares and half from new shares. ICBC will also get two seats on the board of directors.

Bank Charges[edit]

In 2005 Standard Bank was rated as having the lowest bank charges in South Africa. By 2010 that had changed, to the extent that Standard Bank was rated by Finweek’s review of SA bank charges as having amongst the highest bank charges in the country.[15] A report by Afriforum confirmed Standard Bank's position as having the highest bank charges in the country along with Absa Bank.[16]

Customer Service[edit]

The South African Customer Satisfaction Index (SAcsi) of 2015 and 2016 rated Standard Bank as being lowest among South African banks in terms of customer service. Its overall movement in this index has shown a mild decline from previous ratings.[17]

See also[edit]

Bibliography[edit]

External links[edit]

References[edit]

  1. ^ Amphlett, George Thomas (1914). "I - Establishment of the Standard Bank of British South Africa, now called the Standard Bank of South Africa". History of the Standard Bank of South Africa ltd., 1862-1913. Glasgow, Printed by R. Maclehose. p. 1. 
  2. ^ "Home". Standard Bank. Retrieved 2016-07-03. 
  3. ^ Amphlett, George Thomas (1914). "I - Establishment of the Standard Bank of British South Africa, now called the Standard Bank of South Africa". History of the Standard Bank of South Africa ltd., 1862-1913. Glasgow, Printed by R. Maclehose. p. 3. 
  4. ^ Walker, Eric Anderson (1929). The Cambridge History of the British Empire. CUP Archive. p.381
  5. ^ a b c d e Standard Bank Group: Historical Overview
  6. ^ Standard Bank Expands Its Africa Footprint
  7. ^ About Standard Bank Mozambique
  8. ^ About Standard Bank Namibia
  9. ^ Assets & Market Share Among Commercial Banks In Uganda
  10. ^ Uganda Securities Exchange
  11. ^ Standard Bank to sell London business to ICBC for over $500 mln, International: Reuters, 2013 
  12. ^ Standard Bank says in talks to sell London trading unit, International: Reuters, 2014 
  13. ^ Standard Bank PLC fined £7.6m for failures in its anti-money laundering controls, International: FCA, 2014 
  14. ^ Standard Bank Signs Loan Deal With Chinese Banks
  15. ^ Fin24.com reporter (27 September 2010). "SA’s most expensive bank". Fin24.com. Retrieved 9 February 2011. 
  16. ^ "Afriforum: Standard Bank and Absa is South Africa's most expensive banks". Afriforum. 3 November 2010. Retrieved 9 February 2011. 
  17. ^ "Business Tech: Best and worst banks in South Africa". Business Tech. 6 April 2016. Retrieved 8 June 2016. 

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