At The Banker Awards, which were held in London in December 2009, Standard Bank won seven awards, including the prestigious ‘Bank of the Year for Africa.'

Standard Group’s key objective is to become a leading emerging markets financial services organisation and the Isle of Man operation plays a significant role in the to achieve this goal. 

Locally, growth has come through targeting clients in emerging markets both directly and also by working closely with Isle of Man trust companies and international Independent Financial Advisors, whose clients require the financial services support available through Standard Bank.

Managing Director of Standard Bank Isle of Man, John Coyle (pictured), said, "The key objective of the Group is mirrored in the Isle of Man and we are very proud to have our efforts recognised by our industry’s leading publication. This accolade comes at a time when locally we are experiencing increased interest from clients and intermediaries seeking our support and products within emerging markets."

He added, "These awards are reflective of the Group’s strength in Africa and acknowledge its link to other emerging markets of the world, particularly those with connections to the African continent.”

Each year, The Banker, the pre-eminent publication for the industry, acknowledges banks for the best overall performance by country and region, with the winners chosen based on analysis of their financial results, as well as their strategic developments and overall achievements in the year.  

Standard Bank, whose operations extend to 33 countries and with total assets of US$200 billion, was also named ‘Bank of the Year’ for its country of origin South Africa and for Botswana, Lesotho, Malawi, Swaziland and Tanzania, reinforcing its position as Africa’s leading bank.  

Standard Bank’s Africa growth strategy was enhanced in 2008 with ICBC (Industrial and Commercial Bank of China), the world’s largest bank, becoming a strategic partner through its acquisition of 20% of Standard Bank. This was the biggest ever Chinese foreign direct investment at the time. 

  

Standard Bank’s acquisitions in Nigeria, Kenya, Argentina and Turkey, and more recently the finalisation of its 33% partnership with Troika Dialog, the most established independent investment bank in Russia, has reinforced its strategy to build strong operations in chosen markets.

The judging report concluded that, "Standard Bank's ability not only to weather the recent financial storm, but also to thrive, has led to the bank once again winning the Bank of the Year Award for Africa.  

"The 150-year-old institution continued to develop in 2008 into a global diversified financial services player. It made a series of sound investments, both at home and abroad, and has undertaken a sustainable growth policy."