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Standard Bank of South Africa has made a R750 000 cash donation to China in a bid help the mainland country tackle COVID-19. CNBC Africa&#8217;s Karabo Letlhatlha spoke the CEO, Sim Tshabalala for more.</p>


Standard Bank donates R750 000 to help combat COVID-19

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<p>This is an important time for Africa – with the continent being focused on achieving the Sustainable Development Goals (SDGs) by 2030 and with the Africa Continental Free Trade Agreement (AfCFTA) is gaining traction to drive intra-Africa trade. This is the opinion of Sola David-Borha, Chief Executive Officer of Africa Regions at Standard Bank, who spoke to CNBC Africa’s Kenneth Igbomor.</p>


Africa Investment Forum: Standard Bank: Its prime-time to drive intra-Africa trade through SDGs & AfCFTA

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<p>The U.S-China trade war and Brexit have caused much chaos amongst global markets over the past few weeks and joining CNBC Africa to discuss the impact of these geopolitical conflicts on South Africa is Steven Barrow, Standard Bank’s Head of G-10 Strategy.</p>


How the U.S-China trade war, Brexit impacts SA’s economy

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<p>Climate Change cannot be put off for decades. It is here and now, impacting countries across Africa from Zimbabwe to Zambia. Recognising this Standard Bank has joined the coalition of 130 global financial firms in agreeing to align their business with international efforts to address climate change and other environmental issues. The group that signed on to the United Nations’ Principles for Responsible Banking represents $47 trillion in assets. Sola David-Borha, Standard Bank Group’s Chief Executive for Africa Regions joins CNBC Africa for more.</p>


How banks can align their business strategies to fighting climate change

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<p>Africa’s biggest bank by assets Standard Bank has invested $4 million into South African Fintech Company Nomanini. Nomanini technology connects informal merchants with distributors via an e-wallet and standard bank will use this technology to collect data on the informal retail economy. They hope to bring their joint service across 14 African countries by 2021. Joining CNBC Africa for more is Vahid Monadjem, CEO of Nomanini, and Adrian Vermooten Head of Digital in Africa Regions from Standard Bank.</p>


Standard Bank, Nomanini partner to access Africa’s informal retail economy

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<p>Africa&#8217;s largest lender by assets Standard Bank is reporting a 5 per cent rise in first-half profit. Headline earnings per share came in at an improved 837.4 cents, up from last year&#8217;s 794 cents. CNBC Africa&#8217;s Kopano Gumbi spoke to Chief Executive, Sim Tshabalala about the growth, exiting Argentina and does SA need an IMF bailout.</p>


Standard Bank looks to Africa for growth


<p>JOHANNESBURG (Reuters) &#8211; South African lender Standard Bank shrugged off the impact of a faltering economy in its home market as its extensive operations across the continent helped the company to a 5% increase in first-half profit.</p>



<p> Standard Bank has been expanding in some of Africa’s fastest-growing economies even as its domestic operations struggle in the face high personal debt and widespread unemployment in its home market. </p>



<p>Like rival Nedbank, Standard Bank delivered flat earnings at its South African personal and business banking business. Elsewhere on the continent, Standard Bank &#8211; Africa’s largest lender by assets &#8211; more than doubled earnings in personal and business banking.</p>



<p>“Whilst there may be headwinds in certain markets, the diversity of our businesses and breadth of our footprint provide us with some shelter,” CEO Sim Tshabalala said in a statement.</p>



<p>Headline earnings per share (HEPS) &#8211; the main profit measure in South Africa &#8211; came in at 837.4 cents ($0.5591), against 794 cents in the same period last year. That 5% increase was slightly better than the 3% posted by Nedbank on Wednesday and helped to lift Standard Bank shares by 1.2% in morning trade.</p>



<p>Standard Bank’s pivot back to Africa after its failed foray into global emerging markets has paid off in other ways, too.</p>



<p>The lender said it would exercise an option to dispose of its 20% stake in the Industrial and Commercial Bank of China’s (ICBC) Argentinian operation &#8211; a relic from the abandoned strategy.</p>



<p>It expects to deliver a gain of about 600 million rand as a result of the transaction, adding that it will reinvest any proceeds into its Africa-focused operations, which have produced more stable profit.</p>



<p>However, a separate London-based partnership with ICBC, focused on financial markets and commodities, made a $129.5 million loss in the first half, largely attributable to a provision covering exposure to a single client that filed for bankruptcy.</p>



<p>Standard Bank has previously said the London-based ICBC joint venture would need 1.1 billion rand injected to support its business plan.</p>



<p>($1 = 14.9705 rand)</p>



<p>Reporting by Emma Rumney; Editing by David Goodman </p>


Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

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<p>Bandile Zondo, Executive Head of Finance at Standard Bank joins CNBC Africa to talk about what the listed property space holds for investors in 2020 at the on-going SAPOA Annual Convention.</p>


Standard Bank’s listed property sector outlook

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<p>Khotso Moji a Money Market, Fixed Income and Structuring Dealer at Standard Bank joins CNBC Africa to look at movements shaping the Lesotho market.</p>


Standard Bank sees improved investment opportunities in Lesotho

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<p>Shifting consumer preferences and increasing competition are creating new challenges for banks. Traditional banks like Standard Bank are trying to find solutions that will keep them relevant to a younger demographic. CEO for Personal and Business Banking at Standard Bank, Funeka Montjane spoke to CNBC Africa’s Kopano Gumbi about the bank’s new product offering, MyMo.</p>


Standard Bank’s new R5 account MyMo

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<p>Improving trade integration across the continent has seen some traction in recent years, but what are some key trends to note with regards to trade in West Africa? CNBC Africa&#8217;s Kenneth Igbomor caught up with Muyiwa Oni, Regional Head of Equity Research at Standard Bank group to discuss the dynamics of trade in West Africa.</p>


The dynamics of trade in West Africa explained


<p>Absa&#8217;s former deputy CEO David Hodnett will join Standard Bank as its  Group’s Chief Risk Officer designate from 25 March 2019 and replace Neil Surgey on 1 May.</p>



<p>Hodnett left Absa in 2018 after his position effectively disappeared due to a restructure.  </p>



<p>In a statement Standard Bank says the banking veteran previously worked for it from 2000 until 2008, during which time he held various risk roles at an executive level, mainly in the Personal and Business Banking division. He joined Absa in 2008, undertaking roles including Chief Risk Officer, Finance Director and Deputy CEO with responsibility for IT, Operations and Rest of Africa. He was most recently appointed as Deputy Chief Executive of South Africa, the role he held until May 2018.</p>


Absa’s former deputy CEO joins Standard Bank

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<p>The retail banking industry is starting to restructure into digital banking. However the price to pay for the technological workforce progress is the loss of jobs.  The recent news that Standard Bank has planned to shut down 91 of its branches across the country will result in job losses of 1 200 people. More banking institutions are going to follow in suit and for more on this CNBC Africa is joined by Joe Kokela, General Secretary of the Finance Union of South Africa (SASBO).</p>


Digital Banking: A threat to jobs in SA’s banking sector


<p>By CNBC Africa </p>



<p>Standard Bank will close 91 branches in South Africa, with the vast majority of these closing by June 2019. These changes will impact approximately 1200 jobs. The bank said the changes are part of its plan to realign its retail and business banking delivery model to the changing needs of customers amid rapid adoption of digital banking products and services. It added that as part of a support programme agreed with its union, SASBO, the bank will implement a comprehensive exit package which significantly exceeds the requirements as set out in the Labour Relations Act. </p>



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<p>Read its full statement below</p>



<p><strong>Standard Bank South Africa implements a
new banking delivery model</strong></p>



<p><strong>JOHANNESBURG, 14 March 2019 &#8211; </strong>Standard Bank is realigning its retail and
business banking delivery model to the changing needs of customers amid rapid
adoption of digital banking products and services.</p>



<p>The shift in customer behaviour means that our clients
are using our branches less.</p>



<p>As such, we have re-looked our retail and business
banking delivery model so that it is geared to serve the needs of our
customers. </p>



<p>As part of the implementation of the new banking
delivery model, some of the roles currently being performed in our branches
will change. A decision has also been taken to close 91 branches, with the vast
majority of these closing by June 2019. These changes will impact approximately
1200 jobs. However the actual number of employees who will ultimately exit the
employ of Standard Bank SA could be lower, as new opportunities will become
available in the new operating model.&nbsp; </p>



<p>We have worked
hard to minimise the impact of this re-organisation on our people. As part of a
support programme agreed with SASBO, Standard Bank SA will implement a
comprehensive exit package which significantly exceeds the requirements as set
out in the Labour Relations Act. </p>



<p>We have also set
aside funds to assist employees acquire new skills to improve their competitiveness
in the labour market, as well as entrepreneurial training and financial
assistance.</p>



<p>This has not been an easy decision to make. We
recognise that this is a very stressful time for everyone. Briefing sessions
kicked off early this week, and our leaders will continue to engage colleagues
across the provinces over the next few weeks. </p>


Standard Bank to close 91 branches; 1200 staff to be impacted

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<p>Standard Bank will close 91 branches in South Africa, with the vast majority of these closing by June this year. These changes will impact approximately 1200 jobs. The bank said the changes are part of its plan to realign its retail and business banking delivery model to the changing needs of customers amid rapid adoption of digital banking products and services. Funeka Montjane, Chief Executive Personal &#038; Business Banking South Africa, Standard Bank joins CNBC Africa for more.</p>


Standard Bank’s Montjane reveals more details on branch closures, job losses

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<p>Ghana is looking to attract foreign capital by improving its business environment with the announcement of 10 new measures. Meanwhile, the country is seeking a $750 million U.S dollar bridge loan from Stanchart and Standard bank. John Gatsi, Head; Finance Department at the University of Cape Coast joins CNBC Africa to discuss Ghana’s funding strategy as it prepares to exit the IMF programme.</p>


Ghana announces new measures to create conducive business environment

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<p>South Africa’s volatile political year poses a threat to the socioeconomic environment in SA which could further sovereign credit rating downgrades, this is according to Standard Bank.  CNBC Africa reporter Kopano Gumbi, caught up with Standard Bank’s Chief Economist, Goolam Ballim for the banks macro-economic outlook for this year.</p>


Standard Bank

Standard Bank donates R750 000 to help combat COVID-19

Africa Investment Forum: Standard Bank: Its prime-time to drive intra-Africa trade through SDGs & AfCFTA

How the U.S-China trade war, Brexit impacts SA’s economy

How banks can align their business strategies to fighting climate change

Standard Bank, Nomanini partner to access Africa’s informal retail economy

Standard Bank looks to Africa for growth

Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

Standard Bank’s listed property sector outlook

Standard Bank sees improved investment opportunities in Lesotho

Standard Bank’s new R5 account MyMo

The dynamics of trade in West Africa explained

Absa’s former deputy CEO joins Standard Bank

Digital Banking: A threat to jobs in SA’s banking sector

Standard Bank to close 91 branches; 1200 staff to be impacted

Standard Bank’s Montjane reveals more details on branch closures, job losses

Ghana announces new measures to create conducive business environment

Standard Bank economic outlook: A year of two halves

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Standard Bank

Standard Bank donates R750 000 to help combat COVID-19

Africa Investment Forum: Standard Bank: Its prime-time to drive intra-Africa trade through SDGs & AfCFTA

How the U.S-China trade war, Brexit impacts SA’s economy

How banks can align their business strategies to fighting climate change

Standard Bank, Nomanini partner to access Africa’s informal retail economy

Standard Bank looks to Africa for growth

Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

Standard Bank’s listed property sector outlook

Standard Bank sees improved investment opportunities in Lesotho

Standard Bank’s new R5 account MyMo

The dynamics of trade in West Africa explained

Absa’s former deputy CEO joins Standard Bank

Digital Banking: A threat to jobs in SA’s banking sector

Standard Bank to close 91 branches; 1200 staff to be impacted

Standard Bank’s Montjane reveals more details on branch closures, job losses

Ghana announces new measures to create conducive business environment

Standard Bank economic outlook: A year of two halves

News Tips

Advertise With Us

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