Standard Bank is the biggest of South Africa's "big four" full-service financial institutions and the largest by assets across Africa as a whole. It offers a full range of retail, corporate and institutional services in 20 countries across the sub-Saharan continent. In some countries it trades as Stanbic Bank, and also offers insurance under the Liberty banner. In South Africa, its main retail banking market, it is the local leader by deposits, joint leader in credit cards and the #1 mortgage lender by far with around 30% market share. The business traces its roots back to the country's colonial past. Originally incorporated in London in the 1860s, it played a major role in the commercial development of sub-Saharan Africa over the next 100 years. In the 1960s the original business merged with another colonial lender in Asia to become what is now Standard Chartered Bank; Standard Bank of South Africa was spun off as an independent business in the 1980s, mainly for political reasons as a result of global opposition to apartheid. Total income for 2017 was ZAR 103.2bn ($7.2bn), with personal and retail banking accounting for around two-thirds of revenues. Sim Tshabalala is chief executive. The group's largest individual shareholder now is China's ICBC, which acquired a 20% stake in 1998. Subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
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Capsule checked 26th September 2018
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