SA banks in line for top African honours

Cape Town - Standard Bank Group is a finalist in the category of African bank of the year.

The African Bank Awards will take place on May 27 after the annual general meeting of the African Development Bank in Ivory Coast.

The other finalists are Guaranty Trust Bank of Nigeria and two banks from Morocco.

In the category of best retail bank in Africa there are two South African banks among the finalists, namely Standard Bank and Nedbank.

In the category for investment bank of the year Standard Bank Group and Nedbank are joined by Rand Merchant Bank among the finalists.

Omar Ben Yedder, president of the awards committee and editor of the magazine African Banker, said in a statement that he is very happy with the diversity and quality of the candidates this year.

"The banking sector in Africa continues to develop and it is encouraging to note that there are still many opportunities for growth," he said.