Standard Bank praised for African operations

Jul 12, 2010

Standard Bank Group has picked up three awards in recognition of its work in providing access to finance across Africa.

The company was named Best Investment Bank in Africa, Best Bank in South Africa and Best Investment Bank in Nigeria at this year's Euromoney Awards for Excellence. "These awards mark a further milestone in achieving Standard Bank's vision to connect Africa to the world and the world to Africa," remarked Chief Executive Jacko Maree.

He added it is "particularly pleasing" to receive recognition in the investment banking sector, which is "highly competitive". According to Bloomberg, the bank has seen an increase in credit card banking accounts in South Africa as a result of the football World Cup, with applications up 30 per cent year-on-year in the opening six months of 2010 due to rising spending ahead of the tournament and lower interest rates.

Mr Maree added Standard Bank, which operates in 17 countries across the continent, will "continue to expand [its] footprint and enhance [its] offerings" to customers across Africa.