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Standard Bank

Standard Bank

Shanduka’s share in Standard Bank amounts to 1%. Standard Bank is a South African-based financial services company with a global presence. Standard Bank operates in 17 African countries and 21 countries on other continents, including the key financial centres of Europe, the Americas and Asia.

Standard Bank was established as the Standard Bank of British South Africa Limited, and incorporated in London in 1862. The word "British" was dropped from the title in 1883.

In 1962 The Standard Bank of South Africa (SBSA) was formed and registered as a South African company, operating as a subsidiary of Standard Bank in London (subsequently to become Standard Chartered Bank plc). Standard Bank Group was established in 1969 as Standard Bank Investment Corporation - the holding company of SBSA. Standard Chartered sold its 39% stake in Standard Bank Group in 1987, transferring complete ownership of the holding company to South Africa.

The re-establishment of Standard Bank's African links began in 1988, when a branch was set up in Swaziland. In 1992 the group opened a Botswana bank and acquired a major African operation: the long-established ANZ Grindlays network in Botswana, Kenya, Uganda, Zaire, Zambia and Zimbabwe, with minority holdings in Ghana and Nigeria.

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