Standard Bank tops in Africa
STANDARD Bank of South Africa has been ranked the leading group in Africa and at 106th position among the 1,000 top banks in the world.
By Vision Reporter
STANDARD Bank of South Africa has been ranked the leading group in Africa and at 106th position among the 1,000 top banks in the world.
There were only 18 banks in sub-Saharan Africa featured in the annual rankings mainly from South Africa, Nigeria, Togo and Mauritius in the list published by The Banker and Financial Times.
Standard Bank, the parent company of Stanbic Bank Uganda, clinched the position due to the group’s strong Tier 1 Capital base, which amounted to $6,516m at the end of 2006: up 35.4% year-on-year.
“Standard Bank Group remains the biggest sub-Saharan bank by a large margin.
“Its Tier 1 capital expansion of 35.4% to $6.5b makes it almost twice the size of Nedbank and well over twice the size of Investec and FirstRand Banking Group,†said a statement on The Banker’s website.
Stanbic Bank said in a separate statement that Standard Bank’s leadership position also highlights the confidence of its shareholders, customers and depositors.
“We believe that the future of banking in Africa lies in our pan-African capabilities, made possible by our strong base of African expertise through our staff, and international networks that ensure world class banking practice and services,†said Craig Bond, the managing director of Standard Bank Africa.
Standard Bank is the largest banking group in Africa by assets, earnings and market capitalisation.
It has an asset base of over $139b, according to the statement issued by the bank.
STANDARD Bank of South Africa has been ranked the leading group in Africa and at 106th position among the 1,000 top banks in the world.
There were only 18 banks in sub-Saharan Africa featured in the annual rankings mainly from South Africa, Nigeria, Togo and Mauritius in the list published by The Banker and Financial Times.
Standard Bank, the parent company of Stanbic Bank Uganda, clinched the position due to the group’s strong Tier 1 Capital base, which amounted to $6,516m at the end of 2006: up 35.4% year-on-year.
“Standard Bank Group remains the biggest sub-Saharan bank by a large margin.
“Its Tier 1 capital expansion of 35.4% to $6.5b makes it almost twice the size of Nedbank and well over twice the size of Investec and FirstRand Banking Group,†said a statement on The Banker’s website.
Stanbic Bank said in a separate statement that Standard Bank’s leadership position also highlights the confidence of its shareholders, customers and depositors.
“We believe that the future of banking in Africa lies in our pan-African capabilities, made possible by our strong base of African expertise through our staff, and international networks that ensure world class banking practice and services,†said Craig Bond, the managing director of Standard Bank Africa.
Standard Bank is the largest banking group in Africa by assets, earnings and market capitalisation.
It has an asset base of over $139b, according to the statement issued by the bank.