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Africa's biggest lender, Standard Bank, prepares for post-Covid economic recovery

By Roxanne Henderson
(Bloomberg) – Africa’s biggest lender sees opportunity in both its core South African market and the rest of the continent amid a recovery from the Covid-19 pandemic. “South Africa is fiercely competitive,” Standard Bank Group Chief Executive Officer Sim Tshabalala said in an interview on Thursday. “We have to continue making investments” there. The Johannesburg-based lender is also ready to take advantage of consolidation throughout Africa, where it has a presence in 20 countries, he said.
Standard Bank has increasingly turned its focus outward in recent years, with Africa producing the fastest-growing parts of its business last year and contributing about a quarter of its total income. ....

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Standard Bank Gears Up for Africa's Post-Covid Economic Recovery

Standard Bank Gears Up for Africaâs Post-Covid Economic Recovery
May 13 2021, 8:24 PM
May 13 2021, 6:48 PM
May 13 2021, 8:24 PM
(Bloomberg) Africaâs biggest lender sees opportunity in both its core South African market and the rest of the continent amid a recovery from the Covid-19 pandemic.
(Bloomberg) Africaâs biggest lender sees opportunity in both its core South African market and the rest of the continent amid a recovery from the Covid-19 pandemic.
âSouth Africa is fiercely competitive,â Standard Bank Group Ltd. Chief Executive Officer Sim Tshabalala said in an interview on Thursday. âWe have to continue making investmentsâ there. The Johannesburg-based lender is also ready to take advantage of consolidation throughout Africa, where it has a presence in 20 countries, he said. ....

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Standard Bank gears up for Africa's post-Covid-19 economic recovery

Standard Bank has increasingly turned its focus outward in recent years.
Africa’s biggest lender sees opportunity in both its core South African market and the rest of the continent amid a recovery from the Covid-19 pandemic.
South Africa is fiercely competitive, Standard Bank [JSE:SBK] Chief Executive Officer Sim Tshabalala said in an interview on Thursday. We have to continue making investments there. The Johannesburg-based lender is also ready to take advantage of consolidation throughout Africa, where it has a presence in 20 countries, he said.
Standard Bank has increasingly turned its focus outward in recent years, with Africa producing the fastest-growing parts of its business last year and contributing about a quarter of its total income. ....

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Standard Bank gears up for Africa's post-Covid economic recovery

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Standard Bank has increasingly turned its focus outward in recent years, with Africa producing the fastest-growing parts of its business last year and contributing about a quarter of its total income.
âWe are going to go where the returns are highest and the risks are lowest,â Tshabalala said. Geographically, Ethiopia and the West African Economic and Monetary Union including CÃ´te DâIvoire, Mali and Senegal are attractive, he said. The lender expects growth in South Africa to rebound by 4.6% this year, Tshabalala said. ....

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Banking crisis: Close shave for commercial lenders

Banking crisis: Close shave for commercial lenders
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