Loading...
See More

Africa to contribute 25% of bank’s revenue

Oct 31 2012 20:52 Reuters

Company Data

STANDARD BANK GROUP LIMITED [JSE:SBK]

Last traded 138.21
Change 2.9
% Change 0.02
Cumulative volume 2586857
Market cap 223.69bn

Last Updated: 31/10/2014 at 04:29. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Standard Bank is SA’s greenest company

Businessman questions bank's security

SA bank charges lower, research shows

ANC makes money in Mangaung - report

S&P downgrades Spain two notches

Standard Bank to carry out maintenance

 
Johannesburg - Standard Bank Group [JSE:SBK] sees its African operations excluding South Africa accounting for 25% of group revenue in five years time, from just a tenth at the moment, its deputy chief executive said on Wednesday.

“Our business in Africa has made very good progress, we’re currently generating about R1.4bn a month in Africa outside of South Africa,” Ben Kruger told journalists.

Standard Bank also said it had appointed Peter Schlebusch to help grow its personal and business banking (PBB) across its 18 African franchises in Africa.

PBB contributed R20bn, or 62% of the group’s total income in the first half.

Kruger said the lender expects to open 20-30 new branches in Nigeria annually until it has 300 shops there, from 200 currently. It also intends to have another 30 branches in oil-rich Angola by the end of 2012.
standard bank  |  africa
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...