Standard Bank Group Limited has reached agreement with Grupo Financiero Inbursa SAB, the listed Mexican banking group, (“Inbursa”) in terms of which Inbursa will acquire Standard Bank’s Brazilian licensed banking subsidiary, Banco Standard de Investimentos S.A. (“BSI”) for a price to be determined with reference to the closing net asset value of BSI, which is
Standard Bank Group has produced a stable performance in 2013, increasing headline earnings per share by 14% and net asset value per share by 14%. Group return on equity has increased to 14.1% from 14.0% in 2012. Results at a glance: Headline earnings: R17 194 million, up 15% Headline earnings per share (HEPS): 1 064.9
Standard Bank Group, Africa’s largest lender by assets, has been named the winner of Best Foreign Exchange Provider in Africa 2014 for a second successive year. Standard Bank also received the award for the best foreign exchange provider in Botswana, Kenya, Nigeria, South Africa and Zambia. Mr Zainul Chandoo, Head of Global Markets at Stanbic
South Africa’s Standard Bank has set up an experimental internal Bitcoin trading platform, according to a presentation given at the 2014 Finovation Europe conference in London. Standard Bank has launched the pilot programme using technology provided by Switchless, a platform that enables banks to provide Bitcoin services to their customers. Photographs on the Finovate blog
Jacko Maree was honoured recently, by The Banker magazine, with a lifetime achievement award for his contribution to banking. Jacko’s banking career spans more than 32 years. Of these, Jacko was Chief Executive of Standard Bank Group for 13. The Lifetime Achievement award is not made every year. The award is decided by an editorial committee to
Standard Bank Group has expanded its Africa footprint with the opening of a representative office in the Ivory Coast (Côte d’Ivoire). This means that Standard Bank, which is the largest African banking group by assets and earnings, now has operations in 19 African countries. The representative office, which is based in Abidjan, officially opens for
Ingenico, a leading provider of payment solutions, announced an agreement between its local Value Added Reseller – African Resonance – and Standard Bank, a major Pan-African banking group and one of the four major acquiring banks in South Africa, to implement an innovative outsourcing business model. Within the framework of this agreement, African Resonance will
South African financial institution Standard Bank will be releasing an Android app next year, following the continued launch of its mobile device accessibility in various African countries in 2013. The bank has piloted its sales app and tablet technology in Ghana, Tanzania and Angola since 2012, continuing this year with releases in Zambia, Kenya, Botswana
Standard Bank Group has been awarded the 2013 Bank of the Year award from Africa Investor magazine. The award recognises their growth and performance, how their banking structure and strategy equips them for future developments in the market and their contributions to financial inclusion and economic development in Africa. Africa Investor is an influential niche
There was a massive breach in South Africa’s banks last week resulting in tens of millions of rands in losses. The breach was caused by a malicious malware called Dexter which was unknowingly installed on the POS terminals of a number of fast food chains. It is believed that the malware was implemented by an
