Chronicle Editor
Business Reporter
STANBIC Bank Zimbabwe’s parent company, Standard Bank Group, has earned the “most valuable” banking brand on the African continent for 2022.
This comes after the financial institution increased its brand value by 26 percent to US$1.583 billion.
This has seen Africa’s largest financial services organisation by assets jump 17 places to rank 145th globally.
For a third consecutive year, Standard Bank has also increased its reputation score above the South African banking sector average, according to Brand Finance’s Global Brand Equity Monitor.
Every year, Brand Finance puts 5 000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across different sectors and countries.
The world’s top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking.
Commenting on the new accolade, Standard Bank Group chief executive, Mr Sim Tshabalala, said: “We’re delighted by our brand’s performance as it spotlights the hard work undertaken over the past few years to radically overhaul our business model and transform experiences for clients. “The group has invested heavily in disruptive technologies to provide our clients with banking, asset management and insurance solutions to enable them to achieve their unique goals and ambitions.”
In 2019, Standard Bank began a journey that fundamentally redefined its business. As it undertook a future-ready transformation and the expansion into a platform business, it also introduced a comprehensive brand repositioning, the first in 10 years, culminating in the launch of the ‘It Can Be’ brand promise in 2020.
“Our brand positioning aligns to our organisation’s ambition to transform client experiences based on researched client insights,” says Thulani Sibeko, Standard Bank’s chief brand and marketing officer.
“Our people are inspired and committed to provide solutions and experiences that matter and create value to our clients.”
Recently, Standard Bank reached the 10 million customer mark in South Africa, which Sibeko says has been driven in part by gaining momentum within the mass market.
“We are both proud and honoured to be awarded the title of Africa’s most valuable bank brand,” he said.
“The most successful brands are often the most relevant, and remaining relevant means constantly evolving, and changing with developing client requirements.”
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