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Standard to remain in Russia: Maree

Mar 03 2011 11:49
Reuters

Company Data

STANDARD BANK GROUP LIMITED [JSE:SBK]

Last traded 109
Change -1
% Change -1
Cumulative volume 4475669
Market cap 0

Last Updated: 08-02-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Standard Bank Group [JSE:SBK], Africa’s biggest lender by assets, will remain in Russia but it does not need a bank to advance its strategy in the European country, its chief executive said on Thursday.
 
Standard Bank, which owns 36.4% in Russia’s Troika Dialog, said earlier it no longer plans to buy or build more businesses in markets beyond Africa.
 
“We do not need a bank (stake) to execute our strategy” Jacko Maree said at the presentation of the bank annual results, referring to Russia.
 
Maree also said there no plans to sell its stake in its Argentinean business but were looking at optimising the business.
standard bank  |  jacko maree

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