Standard Bank remains Africa’s most valuable bank
For three years in a row, Standard Bank Group has been ranked the most valuable banking brand in Africa, according to the 2013 global Top 500 Banking Brands report.
The bank operates with subsidiaries in 18 African countries and, in Malawi, it owns the Malawi Stock Exchange (MSE)-listed Standard Bank Malawi.
In the report, Standard Bank Group was ranked 103 among the world’s top 500 global banks.
The Top 500 Banking Brands is compiled by valuation consultancy and asset manager Brand Finance Banking, and is published in the leading global banking magazine The Banker.
The Top 500 Banking Brands, now in its eighth year, is the only direct comparison of brand value in the global banking industry.
According to the report, the South African headquartered bank consolidates its position as the leading banking brand on the continent with a brand worth of $1,705 million, a AA+( Very strong) brand rating and a market capitalisation of $12,250 million.
Speaking on the new rating, Standard Bank Group deputy chief executive Ben Kruger says the milestone is testimony to the group’s strategic commitment to doing business in Africa and building a world class franchise on the African continent.
“We are delighted that our brand continues to be recognised as the most valuable in Africa. This recognition is the result of many factors, the most important of which is the dedicated focus of our people and the service that they provide to our customers and clients in South Africa and the rest of Africa.”
He added: “This ranking is a reflection of the value created in delivering what is important to our customers in different segments and markets, as we strongly believe that is what ultimately differentiates banks and builds value in a brand.”
On the MSE, Standard Bank Malawi has seen its share price rising this week by K1.64 (about $0.0048) per share to K132 (about $0.38), a rise analysts have attributed to interplay of market forces where supply is scanty.
