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STANBIC Bank Zimbabwe’s parent company, Standard Bank Group which is also Africa’s largest bank by assets has been voted the Best Overall Bank in Africa in the 2015 Euromoney Real Estate Survey Awards.
The South African head-quartered Standard Bank also received several additional awards in recognition of its ability to tailor solutions for clients in an increasingly complex marketplace.
Accolades awarded to Standard Bank within the banking category for real estate across Africa included best overall bank in Africa, best loan finance bank in Africa, best equity finance bank in Africa, best M&A advisory bank in Africa and best debt capital markets bank in Africa.
“It is an honour to be recognised by Euromoney and receive these accolades. These awards are testament to our ability to tailor solutions for our clients that reflect our deep understanding of the markets in which we operate,” said Gary Garrett, Head of Real Estate Finance at Standard Bank.
Standard Bank also received a further 10 country specific awards, including best overall bank in Nigeria (Stanbic IBTC), best loan finance bank in Nigeria (Stanbic IBTC), best debt capital markets bank in Nigeria (Stanbic IBTC), best overall bank in South Africa, best loan finance bank in South Africa, best overall bank in Ghana, best equity finance bank in Ghana, best debt capital markets bank in Ghana, best loan finance bank in Ghana and best M&A advisory bank in Ghana.
The Euromoney Real Estate Survey Awards recognise excellence in the real estate sector. These awards were not based on a submission but rather peer recognition by a broad range of participants and industry experts across the sector.
Companies that participate in the survey include banks, property developers, investors, asset managers, legal firms and other relevant real estate stakeholders.
“We believe that our presence across Africa, and the resultant local insight that we have, is crucial in our ability to partner with clients looking to grow their businesses across the continent,” said Mr Garrett.
Meanwhile, the Standard Bank Group has signed a trilateral business cooperation agreement with Woori Bank and the Industrial and Commercial Bank of China (ICBC) to promote mutual cooperation in relation to business expansion in Africa.
Standard Bank signed a similar agreement with Woori Bank, one of the largest commercial bank in South Korea, in April this year.
“This trilateral agreement will make it easier for Korean and Chinese companies to cooperate in developing business in Africa. Standard Bank will become the pre-eminent bank of choice for these activities,” said Robert Cleasby, Standard Bank’s Global Head of Financial Institutions.
He said that Woori Bank has no presence in Africa and therefore a partnership with a strong bank like Standard Bank will enable it to extend its banking relationship with key Korean clients across the continent. ICBC and Standard Bank are strategic partners, with ICBC having a with a 20,1 percent shareholding in Standard Bank.
Woori Bank has been providing financial services to Korean corporations in the African market through a Korean Desk in South Africa, made possible by the business cooperation agreement which it signed with Standard Bank in April this year. Through this trilateral business cooperation agreement that includes ICBC, Woori Bank will be able to expand its target business to include Chinese corporations actively investing in Africa.
Woori Bank CEO Lee Kwang Goo said: “The three banks, all leaders in their respective home markets, will be able to take advantage of the various business opportunities and provide excellent financial services to Korean and Chinese corporations investing in Africa through mutual cooperation in the potentially fast-growing African region. In addition, using the Korean Desk in South Africa as a foothold, Woori Bank will be able to provide customized financial solutions for Korean and Chinese corporations that have already entered or are preparing to enter the African market.”
The Industrial and Commercial Bank of China operates over 18 000 networks in 41 regions across the globe and is the number one bank in the world (based on assets). Standard Bank, founded in 1862 with 153 years of history, is the number one bank by assets in the Republic of South Africa.
Standard Bank maintains networks in the largest number of countries across the African continent: over 1280 networks in 20 countries. Stanbic Bank has 20 branches across the country. It was awarded the 2015 best emerging markets bank in Zimbabwe by the Global Finance magazine.
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