Standard Bank looks at potential market disposal - CNBC Africa

Standard Bank looks at potential market disposal

Southern Africa

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Standard Bank Group is the largest African bank by assets and earnings. PHOTO: Standard Bank

“The principal legal entity that would form part of a transaction is Standard Bank Plc, the group’s London banking operation. Such a transaction, should it be concluded, would result in the Standard Bank Group retaining a minority shareholding interest sufficient to maintain the continuity of access to this business for the group’s African network and clients,” it said.

Standard Bank Group, which is the largest African bank by assets and earnings, is engaged in discussions relating to the potential disposal of a controlling stake in its global markets business.

It has a presence in Angola, Ghana, Namibia, Kenya, Nigeria, Mozambique and South Africa, as well as Brazil, the United Kingdom, Singapore, Russia and China to name a few.

The group emphasised that the announcement was intended to advise shareholders and that the transaction had not been concluded.

“These negotiations, if successfully concluded, may have an effect on the price of the group’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the group’s securities until a further announcement is made,” said Standard Bank Group. 

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