Play Video
1
Standard bank debt collecting-Whackhead prank 1/2
Standard bank debt collecting-Whackhead prank 1/2
::2010/01/29::
Play Video
2
Standard Bank of South Africa is Bringing Banking to the Unbanked
Standard Bank of South Africa is Bringing Banking to the Unbanked
::2012/01/27::
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3
Standard Bank App for tablet
Standard Bank App for tablet's advert
::2014/03/18::
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4
StandardBank i - Interview
StandardBank i - Interview
::2014/06/06::
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5
Overview of Standard Bank
Overview of Standard Bank's Tablet App
::2014/03/17::
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6
Standard Bank and SAP Bring Mobile Banking to Over Half a Million Customers in South Africa
Standard Bank and SAP Bring Mobile Banking to Over Half a Million Customers in South Africa
::2013/02/18::
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7
Standard Bank |
Standard Bank | 'Corporate & Investment Banking'
::2011/06/15::
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8
Overview of the new Standard Bank Smartphone App
Overview of the new Standard Bank Smartphone App
::2014/08/15::
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9
Audrey Mothupi, Standard Bank of South Africa
Audrey Mothupi, Standard Bank of South Africa
::2014/02/11::
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10
Standard Bank
Standard Bank
::2014/04/17::
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11
Standard bank debt collecting-Whackhead prank 2/2
Standard bank debt collecting-Whackhead prank 2/2
::2010/01/29::
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12
Standard Bank’s Plans For African Operations
Standard Bank’s Plans For African Operations
::2014/08/18::
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13
Standard Bank Joy of Jazz 2014
Standard Bank Joy of Jazz 2014
::2014/06/03::
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14
Top Billing attends the Standard Bank App launch (FULL INSERT)
Top Billing attends the Standard Bank App launch (FULL INSERT)
::2014/03/26::
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15
Memorial service honouring SA Sports Stars
Memorial service honouring SA Sports Stars
::2014/10/30::
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16
Standard Bank launches new online app
Standard Bank launches new online app
::2014/03/27::
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17
Standard Bank Group joins forces with IRONMAN South Africa
Standard Bank Group joins forces with IRONMAN South Africa
::2014/09/08::
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18
Standard Bank Young Artist Award 2013 - Shane Cooper (Jazz)
Standard Bank Young Artist Award 2013 - Shane Cooper (Jazz)
::2012/11/14::
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19
Standard Bank Young Artist Award 2014 - Kyle Shepherd (Jazz)
Standard Bank Young Artist Award 2014 - Kyle Shepherd (Jazz)
::2013/10/15::
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20
Standard Bank
Standard Bank
::2013/07/25::
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21
Standard Bank Joy Of Jazz 2014 - Sandton Convention Centre
Standard Bank Joy Of Jazz 2014 - Sandton Convention Centre
::2014/09/11::
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22
Standard Bank Master Pass TVC - Weslee Swain Lauder
Standard Bank Master Pass TVC - Weslee Swain Lauder
::2014/10/14::
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23
Standard Bank Young Artist Award 2015 - Kemang Wa Lehurele (Visual Art)
Standard Bank Young Artist Award 2015 - Kemang Wa Lehurele (Visual Art)
::2014/10/28::
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24
Standard Bank talks Think Big show and banking for small businesses
Standard Bank talks Think Big show and banking for small businesses
::2014/09/05::
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25
Pedro Coelho, CEO, Standard Bank Angola, at the Ai CEO Institutional Investment Summit 2013
Pedro Coelho, CEO, Standard Bank Angola, at the Ai CEO Institutional Investment Summit 2013
::2013/11/15::
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26
Standard Bank Young Artist 2015 - Nduduzo Makhathini - Jazz
Standard Bank Young Artist 2015 - Nduduzo Makhathini - Jazz
::2014/10/29::
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27
The
The 'Pacific Standard Bank Heist' | a GTA Online Machinima Movie
::2014/05/28::
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28
Jacko Maree - CEO, Standard Bank
Jacko Maree - CEO, Standard Bank
::2010/03/04::
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29
Standard Bank
Standard Bank
::2011/09/05::
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30
Standard Bank Young Artist Award 2014 - Donna Kukama (Performance Art)
Standard Bank Young Artist Award 2014 - Donna Kukama (Performance Art)
::2013/10/15::
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31
Standard Bank Young Artist Award 2013 -Mary Sibande (Visual Art)
Standard Bank Young Artist Award 2013 -Mary Sibande (Visual Art)
::2012/11/14::
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32
Welcome to the Standard Bank IRONMAN African Championship
Welcome to the Standard Bank IRONMAN African Championship
::2014/10/13::
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33
City of London Apprenticeship Programme: Standard Bank
City of London Apprenticeship Programme: Standard Bank
::2014/01/07::
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34
a-ha live - Dark is the Night (HD) - Standard Bank Arena, Johannesburg - 02-03-1994
a-ha live - Dark is the Night (HD) - Standard Bank Arena, Johannesburg - 02-03-1994
::2010/03/07::
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35
Standard Bank Young Artist Award 2014 - Hasan & Husain Essop (Visual Art)
Standard Bank Young Artist Award 2014 - Hasan & Husain Essop (Visual Art)
::2013/10/15::
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36
Introducing Standard Bank
Introducing Standard Bank's business TV show ThinkBig
::2014/07/15::
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37
Standard Bank Young Artist Award 2009 - Music
Standard Bank Young Artist Award 2009 - Music
::2008/11/29::
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38
Standard Bank Young Artist Award 2013 - Njabulo Madlala (Music)
Standard Bank Young Artist Award 2013 - Njabulo Madlala (Music)
::2013/10/15::
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39
Helping Standard Bank South Africa Unwire Its People and Connect to Their Customers
Helping Standard Bank South Africa Unwire Its People and Connect to Their Customers
::2012/09/07::
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40
Standard Bank Young Artist Award 2014 - Jahmil XT Qubeka (Film)
Standard Bank Young Artist Award 2014 - Jahmil XT Qubeka (Film)
::2013/10/15::
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41
Standard Bank Young Artist Award 2013 - Anthea Moys (Performance Art)
Standard Bank Young Artist Award 2013 - Anthea Moys (Performance Art)
::2012/11/14::
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42
Standard Bank Joy Of Jazz 2014 - Opening Night Packages
Standard Bank Joy Of Jazz 2014 - Opening Night Packages
::2014/09/11::
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43
S8E11 Standard Bank - Chicken Farming Cluster
S8E11 Standard Bank - Chicken Farming Cluster
::2013/10/24::
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44
Standard Bank CIB Corporate_HQ
Standard Bank CIB Corporate_HQ
::2009/09/14::
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45
Standard Bank Group shows good growth in the first half of 2014
Standard Bank Group shows good growth in the first half of 2014
::2014/08/20::
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46
Standard Bank Access Banking
Standard Bank Access Banking
::2012/10/29::
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47
Welcome to Cachet Park Student Branch - the next generation banking branch
Welcome to Cachet Park Student Branch - the next generation banking branch
::2012/03/06::
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48
Standard Bank Group: Our Heritage
Standard Bank Group: Our Heritage
::2012/12/20::
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49
Standard Bank
Standard Bank's Journey Towards World Class Customer Experiences
::2014/05/27::
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Standard Bank Joy Of Jazz 2011
Standard Bank Joy Of Jazz 2011
::2011/06/10::
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From Wikipedia, the free encyclopedia
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This article is about the present South African-based bank. For the historic British bank, now part of Standard Chartered, see Standard Bank (historic).
"Standard Bank of South Africa" redirects here. For the bank known by that name until 1962, see Standard Bank (historic).
The Standard Bank
of South Africa Limited
Type Public
Traded as JSE: SBK
Industry Banking
Founded 1962; 52 years ago (1962)[1]
Headquarters Johannesburg, South Africa
Area served Southern Africa, Africa
Key people Fred Phaswana
Chairman
Sim Tshabalala
Joint Chief Executive
Ben Kruger
Joint Chief Executive
Products Commercial banking
Investment banking
Investment management
Revenue Decrease US$ 16,6 Billion (2010)
Net income Increase US$ 1,6 Billion (2010)
Total assets Increase US$ 201,9 Billion (2010)
Employees 49,000
Website standardbank.com

The Standard Bank of South Africa Limited is one of South Africa's largest financial services groups. It operates in 32 countries around the world, including 19 in Africa.

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 Standard Bank of South Africa.

The bank's origins can be traced to 1862, when a group of businessmen led by John Paterson[2] 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.[3]

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.[3]

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.[3]

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.[4] 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.[5]

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.

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.[6]

Côte d'Ivoire[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.[7]

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 of Malawi.

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.[3]

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.[8] In November 2013, Standard Bank confirmed it was in talks to sell a controlling stake in its London-based global markets business.[9]

During 2014 Standard Bank Limited SA, were fined more tha £6 Million for Money Laundering (AML) Regulations by the FCA, or its predecessor the Financial Services Authority (FSA) in London. This has brought focuses to the Standard Bank’s international commercial banking activity. It was the first AML case to use the new penalty regime, which applies to breaches committed from 6 March 2010. Under the new regime, larger fines are expected. 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.

Argentina[edit]

In 2006, Standard Bank bought BankBoston Argentina 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 it s 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.[10]

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.[11] A report by Afriforum confirmed Standard Bank's position as having the highest bank charges in the country along with Absa Bank.[12]

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. ^ 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. 
  3. ^ a b c d Standard Bank Group: Historical Overview
  4. ^ Assets & Market Share Among Commercial Banks In Uganda
  5. ^ Uganda Securities Exchange
  6. ^ About Standard Bank Mozambique
  7. ^ Standard Bank Expands Its Africa Footprint
  8. ^ Standard Bank to sell London business to ICBC for over $500 mln, International: Reuters, 2013 
  9. ^ Standard Bank says in talks to sell London trading unit, International: Reuters, 2014 
  10. ^ Standard Bank Signs Loan Deal With Chinese Banks
  11. ^ Fin24.com reporter (27 September 2010). "SA’s most expensive bank". Fin24.com. Retrieved 9 February 2011. 
  12. ^ "Afriforum: Standard Bank and Absa is South Africa's most expensive banks". Afriforum. 3 November 2010. Retrieved 9 February 2011. 
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