16 Facts About Standard Bank

1.

Standard Bank Group Limited is a major South African bank and financial services group.

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2.

In March 2019, Standard became the first bank in Africa to shift its operations onto Amazon Web Services.

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3.

Standard Bank Eswatini opened its doors in 1988 and is today a leading commercial bank in the country.

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4.

In February 2014, Standard Bank Group is expected to open a representative office in Abidjan, Ivory Coast, marking the entry of the banking conglomerate into Francophone West Africa.

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5.

Standard Bank SARL has a long history and is considered one of the leaders of the local market.

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6.

Standard Bank Namibia is largely detached from the South African parent company for legal reasons.

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7.

On 21 August 2007 Standard Bank Group acquired controlling interest in IBTC Chartered Bank.

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8.

In September 2012, Stanbic Standard Bank Tanzania secured financing worth $3 billion for Mchuchuma Iron Ore and Liganga Coal mining project in the Ludewa district of the newly created region of Njombe in southwestern Tanzania.

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9.

In 2002, Standard Bank acquired 90 percent of Uganda Commercial Bank, the largest commercial bank in Uganda at that time, making Standard Bank a major actor in the banking sector of that East African country.

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10.

The stock of Stanbic Standard Bank Limited is traded on the Uganda Securities Exchange under the symbol SBU.

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11.

In 2015 Stanbic Standard Bank was involved in a fraud scandal involving money transfers from the Swedish embassy to private accounts of a former embassy employee.

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12.

In November 2013, Standard Bank confirmed it was in talks to sell a controlling stake in its London-based global markets business.

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13.

Between 15 December 2007 and 20 July 2011, Standard Bank failed to comply with Regulation 20 of the Money Laundering Regulations because it failed to take reasonable care to ensure that all aspects of its AML policies were applied appropriately and consistently to its corporate customers connected to PEPs.

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14.

In 2006, Standard Bank bought BankBoston Argentina unit expanding its operations into this country.

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15.

In 2005 Standard Bank was rated as having the lowest bank charges in South Africa.

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16.

South African Customer Satisfaction Index of 2015 and 2016 rated Standard Bank as being lowest among South African banks in terms of customer service.

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