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13.12.2011 Business & Finance

Stanbic Bank Is Africa Bank Of The Year

By Daily Graphic
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A leading journal of the global banking industry, The Banker, has named the parent company of Stanbic Bank Ghana, Standard Bank, the 2011 Bank of the Year in Africa.

In addition, The Banker also named Standard Bank the Bank of the Year in Botswana, Lesotho, Malawi and Zimbabwe.

It is in recognition of Standard Bank’s ability to gain strategic advantage, adapt to variable market conditions, secure important deals and succeed in an increasingly competitive landscape.

The Deputy Chief Executive of Standard Bank Group, Mr Ben Kruger, said “Standard Bank has a deep and long-standing commitment to develop business in Africa. We are delighted with this recognition of our ability to connect Africa and the world.”

He stated that the awards reflected the group’s continued growth across the continent and its substantial investment in the development of local presence and infrastructure.

He pointed to three major milestones recently reached by the group as a testimony of the feat.

They included the celebration of the opening of its 500th branch in Africa (outside of South Africa) in October 2011 in the Nigerian town of Ajao Estate. In addition, Standard Bank also reached three million active accounts from its operations in 17 countries around the continent, excluding South Africa.

“We are delighted to receive this recognition as Bank of the Year in Africa, particularly because our operations on the continent are so important in maintaining the competitive advantage we are building,” said Mr Kruger.

He added that for those serious about taking advantage of the growth opportunities in Africa, there could be no substitute for on-the-ground presence in the key markets, saying “Standard Bank has been investing steadily in its African footprint for the best part of 20 years. This experience has provided lessons that continue to help us understand how best to continue growing in Africa.”

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