STANDARD Bank Group has retained its status as Africa’s top bank in the prestigious 2011 ‘The Banker Top 1000 World Banks’ rankings.
The bank also rose from 106th position in 2010 to 94th position in the 2011 rankings and has been placed 7th in the regional highest movers table.
“This is a significant achievement especially given that our nearest African rival was ranked in 156th position,” said chief executive of Standard Bank Isle of Man, John Coyle.
“In the Isle of Man we are pleased with this recognition as it reinforces the critical message that Standard Bank is a stable, well-capitalised bank which reflects well on our local service.
“Our strong capital position has provided us with a very solid foundation with which to build on and face the future. Standard Bank can truly be considered a force to be reckoned with both in South Africa and on the rest of the continent.”
Compiled by ‘The Banker’, a leading global journal of the banking sector, the ranking has been published annually since 1970 to track the world's largest bank holding companies ranked by Tier 1 capital.
The object of the survey is to show the banks' soundness in relation to the Basel requirement of a minimum ratio of Tier 1 capital to risk-weighted assets of 4% (increasing to 7% by 2019), and a minimum ratio of total capital to risk-weighted assets of 8%.
Standard Bank Group is Africa’s largest bank by assets. It has wide representation that spans 17 African nations and 13 countries outside of Africa. The group has more than 1,000 branches on the African continent and representation in key global financial centres.
The group has 53,000 employees around the world across personal and business banking, corporate and investment banking and wealth management. Total assets were over ZAR1 341 billion (about US$202 billion) at 31 December 2010. Standard Bank’s market capitalisation at 31 December 2010 was ZAR170 billion (about US$26 billion).
The group’s largest shareholder is Industrial and Commercial Bank of China (ICBC) which holds 20%. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets.
