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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 138.68
Change -1.08
% Change -0.01
Cumulative volume 1865781
Market cap 224.65bn

Last Updated: 23/04/2014 at 04:27. 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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