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05.01.2011 Business & Finance

Standard Bank Named Best African Bank

By Graphic Ghana - Daily Graphic
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Standard Bank, Africa's largest bank by assets, has been named 2010's Best Bank in Africa and best bank in five individual African countries by The Banker, a leading journal of the global banking and finance industry.

In addition to Best Bank in Africa, The Banker named Standard Bank the best bank in South Africa, Lesotho, Malawi, Uganda and Zimbabwe.

The annual Bank of the Year awards recognise banks that succeed in gaining strategic advantage and delivering shareholder returns in spite of volatile market conditions. The Banker recognised Standard Bank for its ability to adapt to changing conditions, secure important deals and succeed in an increasingly competitive landscape.

Standard Bank Group has now won more than 20 awards from a variety of industry bodies since the beginning of 2010. Overall, the awards recognise the group's efforts to develop a solid banking business in key African regions going back many years to when the continent was still struggling to gain global confidence.

Ben Kruger, Deputy Chief Executive, Standard Bank Group, says of the awards: 'Standard Bank has a deep and long-standing commitment to developing business in Africa. We are delighted with this recognition of our capability on the continent as well as our ability to connect Africa and the world.

'Africa will remain our calling card and Standard Bank is ideally placed to capitalise on developments in the region. We are particularly well-placed to connect trade and investment opportunities in Africa to not only developed markets, but also with the emerging BRIC economies that are helping to propel growth in world trade.'

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