5 December 2011
South Africa’s Standard Bank Group has been named 2011 Bank of the Year in Africa and Best Bank in four African countries by The Banker, a leading journal of the global banking industry.
In addition to Bank of the Year in Africa, The Banker named Standard Bank as Bank of the Year in Botswana, Lesotho, Malawi and Zimbabwe.
The Banker recognised Standard Bank Group for its ability to gain strategic advantage, adapt to variable market conditions, secure important deals and succeed in an increasingly competitive landscape.
“Standard Bank has a deep and long-standing commitment to developing business in Africa,” Standard Bank Group deputy CEO Ben Kruger said in a statement last week. “We are delighted with this recognition of our ability to connect Africa and the world.”
Kruger believes the awards reflect the group’s continued growth across the continent and its substantial investment in the development of local presence and infrastructure.
“When we say that Africa is at our core, we have tangible evidence of this in the way Standard Bank has extended and deepened its presence in key African markets,” said Kruger.
Taking advantage of growth opportunities
Kruger pointed to major milestones recently passed by the Standard Bank Group: in October 2011, the bank celebrated the opening of its 500th branch in Africa (outside of South Africa) in the Nigerian town of Ajao Estate.
In addition, Standard Bank has reached 2.5-million signed-up customers and 3-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,” Kruger said.
“For those serious about taking advantage of the growth opportunities in Africa, there can be no substitute for on-the-ground presence in the key markets.
“This experience has provided lessons that continue to help us understand how best to continue growing in Africa.”
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