Stanbic Bank
 | It has been suggested that this article be merged into Standard Bank. (Discuss) Proposed since May 2020. |
| File:Stanbic Bank logo.svg | |
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Headquarters | South Africa, Johannesburg |
| Products | Commercial Banking Retail Banking Private Banking Asset Management Mortgages Credit Cards |
| Owner | Standard Bank |
Stanbic Bank is a division of Standard Bank, a member of the Standard Bank Group, based in Johannesburg, South Africa
Overview
Stanbic Bank was adopted as a trading name in 1992, when the Standard Bank Group, then known as Standard Bank Investment Corporation, acquired the African operations of ANZ Grindlays Bank. The new name was adopted to avoid confusion with the Standard Bank's British former parent bank, Standard Chartered Bank, which continued to operate in Africa.[1]
Standard Bank now trades under the name Stanbic Bank in Botswana, the Democratic Republic of the Congo, Ghana, Kenya, Malawi, Nigeria, South Sudan, Tanzania, Uganda, Zambia and Zimbabwe.
The Standard Bank Group also trades as Standard Bank in Namibia, Swaziland, South Africa, Lesotho, Mauritius, Angola and Mozambique. In Madagascar, the group is represented by Union Commercial Bank.[2]
Business Activity
In September 2012, Stanbic Bank Tanzania secured financing worth $3 billion for Mchuchuma Iron Ore and Liganga Coal mining project in the Ludewa district of the newly created region of Njombe in southwestern Tanzania.[3]
In 2015 Stanbic Bank was involved in a fraud scandal involving money transfers from the Swedish embassy to private accounts of a former embassy employee.[4]
External links
See also
References
- ^ Standard Bank Group: Historical Overview Archived 2012-01-13 at the Wayback Machine
- ^ "Home | Standard Bank - South Africa". www.standardbank.co.za. Retrieved 2017-09-13.
- ^ Tanzania: Mining Firm Acquires U.S. $3 Billion From Banks, Africa: AllAfrica.com, 2012, retrieved 4 October 2012
- ^ Swedish embassy scammed for millions, Sweden: Dagens Nyheter, 2015, retrieved 31 October 2015
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