Stanbic Bank

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Stanbic Bank
Private
IndustryBanking, Financial services
HeadquartersSouth Africa, Johannesburg
ProductsCommercial Banking
Retail Banking
Private Banking
Asset Management
Mortgages
Credit Cards
OwnerStandard Bank
Websitewww.stanbicbank.com.gh/ Edit this on Wikidata

Stanbic Bank is a division of Standard Bank, a member of the Standard Bank Group, based in Johannesburg, South Africa.[citation needed]

Overview[edit]

The bank's building in Dar es Salaam, Tanzania.

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[edit]

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[edit]

See also[edit]

References[edit]

  1. ^ Standard Bank Group: Historical Overview Archived 2012-01-13 at the Wayback Machine
  2. ^ "Home | Standard Bank - South Africa". www.standardbank.co.za. Retrieved 2017-09-13.
  3. ^ Tanzania: Mining Firm Acquires U.S. $3 Billion From Banks, Africa: AllAfrica.com, 2012, retrieved 4 October 2012
  4. ^ Swedish embassy scammed for millions, Sweden: Dagens Nyheter, 2015, retrieved 31 October 2015