Johannesburg - South African bank Standard Bank Group
[JSE:SBK] has been recognised as the Best Investment Bank in China for 2011/2012.
This was announced at the recent China Outbound Investment Summit 2012‚ held in
Beijing.
At the award ceremony‚ the panel of judges referred to
Standard Bank’s strategic Brics focus‚ innovative approach and diverse cross
border deals as being reasons for the award.
There was specific reference to
three recent and unique China-Africa transactions‚ namely the "world first"
Central Bank of Nigeria reserve currency transaction‚ advising Metorex on
Africa's largest mining investment by Jinchuan and for advising and
facilitating China Investment Corporation’s (CIC's) investment in Africa’s
diversified industrial company Shanduka.
Standard Bank China CEO Craig Bond said: “We
are exceptionally proud to be honoured here in China for the work we are doing
with our strategic partners‚ the Industrial and Commercial Bank of China‚ in
linking China to Africa and other key emerging markets.
"The very nature of the
relationship between China and Africa means we can really make an impact by
having expertise on the ground in both China and the relevant corresponding
geographies.”
Standard Bank is Africa’s largest bank in terms of assets
and is headquartered in South Africa. It currently operates full service
banking operations in 18 countries in sub-Saharan Africa, and corporate and
investment banking activities in 13 counties outside of Africa.
Bond added: “Because of our presence and intimate
understanding of Africa and its risks‚ we have been able to really help our
Chinese clients understand the nuances of the transactions we work on.
"Likewise‚ through our presence in China and with our partners ICBC‚ we are able
to help emerging markets clients navigate and work well with China.”
In the three transactions specifically mentioned‚ Standard
Bank advised and provided a comprehensive solution of banking services and
products to its clients where each one was distinct in its nature, and all were
“first time” transactions.
In the Central Bank of Nigeria deal‚ the Nigerian government
became the first country to take on renminbi as a portion of its currency
reserves. The bank also advised CIC on its first equity investment in Africa.
The Jinchuan transaction was also its first full acquisition in Africa.