Standard Bank

In 1992 the bank acquired the operations of ANZ Grindlays Bank in eight African countries. Most of the newly acquired banks were renamed Stanbic Bank, to avoid confusion with the former parent (and now competitor), Standard Chartered, which continued to operate in Africa.[7] Several more banks in Africa were acquired during the 1990s, and adopted the Stanbic name.[7] 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.

Standard Bank Eswatini opened its doors in 1988 and is today a leading commercial bank in the country.[10]

In February 2014, Standard Bank Group is expected to open a representative office in Abidjan, Ivory Coast, marking the entry of the banking conglomerate into Francophone West Africa. Ivory Coast becomes the 19th African country where Standard Bank maintains a subsidiary.[11]

In December 2001, Standard Bank acquired 60.18% holding in the Commercial Bank of Malawi. The bank was renamed Standard Bank Malawi.

In Madagascar, the group is represented by Union Commercial Bank.[12]

Standard Bank SARL ("SBM") has a long history and is considered one of the leaders of the local market. Already active in Mozambique for 120 years. The network's Standard Bank is one of the largest in the country. Covers all major towns and cities of Mozambique, with 44 branches.[13]

Standard Bank in Windhoek

The Standard Bank Namibia is largely detached from the South African parent company for legal reasons. The bank was established in Namibia by the first commercial branch on 19 August 1915 in Lüderitz. It's one of the largest banks in Namibia and operates from more than 50 branches.[14]

On 21 August 2007 Standard Bank Group acquired controlling interest in IBTC Chartered Bank. founded by the merger of the International Banking & Trust Company Plc and Chartered Bank Plc. This gave subsidiary Stanbic IBTC Holdings significant presence in the Nigerian market.

Stanbic Bank building in Dar es Salaam, Tanzania.

In 1995, the bank acquired the operations of the Meridien BIAO Bank and renamed it Stanbic Bank Tanzania Limited.[7] 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.[15]

In 2002, Standard Bank acquired 90 percent of Uganda Commercial Bank, the largest commercial bank in Uganda at that time, making Standard Bank a major actor in the banking sector of that East African country. They renamed the bank Stanbic Bank (Uganda) Limited. As of December 2012, Stanbic Bank (Uganda) was still Uganda's largest commercial bank with approximately 20 percent of all bank assets and about 18 percent of all bank branches in the country.[16] The stock of Stanbic Bank (Uganda) Limited is traded on the Uganda Securities Exchange (USE) under the symbol SBU. Standard Bank Group maintains approximately 80 percent shareholding.[17]

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.[18]

Stanbic Bank Zimbabwe Limited operates as a registered commercial bank in Zimbabwe. In November 1992, Standard Bank began operations in Zimbabwe as Stanbic Bank.

In the early 1990s the bank started operations in London, and Standard Bank London Ltd was awarded a banking licence in 1992.[7]

It was announced at the end of July 2013 that Standard Bank was in talks to sell its markets business in London to the Industrial and Commercial Bank of China for more than $500 million.[19] In November 2013, Standard Bank confirmed it was in talks to sell a controlling stake in its London-based global markets business.[20]

In January 2014 the Financial Conduct Authority (FCA) fined Standard Bank PLC (Standard Bank) £7,640,400 for failings relating to its anti-money laundering (AML) policies and procedures over corporate customers connected to politically exposed persons (PEPs). Between 15 December 2007 and 20 July 2011, Standard Bank failed to comply with Regulation 20(1) of the Money Laundering Regulations because it failed to take reasonable care to ensure that all aspects of its AML policies were applied appropriately and consistently to its corporate customers connected to PEPs.[21]

In 2006, Standard Bank bought BankBoston Argentina unit expanding its operations into this country. In 2012, ICBC acquired 80% of its shares. Rebranding occurred in April 2013.

Statue of Manx Poet T.E Brown on Prospect Hill, Douglas Isle of Man, IM1 1SB

Standard Bank has operations in the Isle of Man.

Standard Bank has operations in Jersey.

Standard Bank in Jersey

Also in August 2007, Standard Bank Group acquired a 67% share of the Turkish bank Dundas Ünlü Securities and now operates in Turkey under the name of Standard Ünlü. The Bank sold its shares down to 25% in April 2012 and the Turkish sub was renamed ÜNLÜ & Co. afterwards.

On 6 March 2009, Standard Bank announced plans to acquire 33% of Russia's second biggest investment bank, Troika Dialog. Troika, which was Russia's oldest brokerage, acquired Standard Bank's Russian banking operation, and in addition received cash of $200-million in the form of a 'convertible loan'.[22] Two executives of Standard Bank joined Troika's six-member board. In March 2011, Sberbank, number one bank in Russia by the size of capital and assets, bought Troika Dialog and paid Standard Bank $372 million for its 36.4% stake in Troika.

On 11 September 2009 Industrial and Commercial Bank of China, Industrial and Commercial Bank of China (Macau), Bank of China, China Development Bank, China CITIC Bank initiated $1Billion club loan to Standard Bank.[23]

In October 2007 the Industrial and Commercial Bank of China acquired a stake of about 20% in Standard Bank for US$5.5bn. Half the stake came from ICBC acquiring existing shares and half from new shares. ICBC will also get two seats on the board of directors.