Standard Bank aims for growth in Africa
Standard Bank is growing its personal and business banking division in the rest of Africa to more than R1bn in three years.
What this means is Standard Bank’s personal banking division will turn profitable.
However, business banking will be the most significant earnings contributor in the rest-of-Africa in the business banking division.
Last year, Standard Bank’s personal and business banking division in the rest of Africa posted headline earnings of R105m. Kenya, Mozambique, and Zambia were profitable for the first time. A significant step forward as 2013 declared major losses.
This turnaround growth has been driven by the performance of the business banking operation.
Zweli Manyathi, the CEO of its personal and business banking in the rest of Africa, said they expect to see headline earnings growing to over R1bn in three years. Standard Bank had sunk billions of rand into its rest-of-Africa personal and business banking operations. In order to invest for growth in the future.
Xpertek SFI facilitates the bulk transaction processing for Standard Bank corporate clients in 15 countries across Africa. They offer a comprehensive charging engine for the bank. These support structures ensure seamless transactions to their customers and ease of use for the bank.
For more information and updates, follow our LinkedIn Page here.
To discuss your business requirements, contact Xpertek today.