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Business Reporter
Stanbic Bank Zimbabwe has been recognised as the leading sub-custody provider in the country according to the Global Investor magazine’s annual Sub-custody Survey. The recognition was also achieved by the bank’s operations in Kenya, Namibia, Nigeria, South Africa and Swaziland which fall under its parent company Standard Bank.
The awards were published in the January/February edition of Global Investor, a flagship title of Euromoney Institutional Investor plc., which connects the industries of asset management, asset servicing and securities finance.
Stanbic Bank’s head of Transactional Products and Services Mbongeni Dhlamini said the growth of Standard Bank’s Investor Services business in sub-Saharan Africa had been exceptional, underpinned by strong demand from international investors as well as continued development of the pension savings and insurance markets at a local level.
“Our regional service approach enables clients to benefit from common access to multiple markets and services thereby connecting clients to opportunities in, for and across Africa in line with our broader Bank strategy,” said Dhlamini.
Standard Bank’s strong balance sheet, depth of expertise and on-the ground presence in 18 African markets enables it to serve the increased level of investor interest in the region as well as the desire to develop more liquid local capital markets across sub-Saharan Africa.
Standard Bank Group had total assets of $171 billion and a market capitalisation of $18 billion as of 30 June 2013.
Standard Bank’s Investor Services unit is the market leader in Sub-Saharan Africa with a capability in 15 countries across the region.
Online Reporter