Standard Bank Group has been named as the Best Bank in Africa in Global Finance’s 31st World’s Best Banks 2024 Awards.
The bank was also named as the best bank in Malawi and South Africa.
“Receiving the highest recognition on the continent from an authoritative source such as Global Finance is a great honour and an affirmation of our Africa-led strategy,” says Sim Tshabalala, Chief Executive of Standard Bank Group.
Standard Bank was recognised for its strong business performance, driven by underlying economic recovery in its countries of operation, as well as offering the broadest range of services, long-term reliability, and technological innovation. The Group operates in 20 countries in Africa and six international centres.
Global Finance’s selections were made by the publication’s editors in consultation with corporate financial executives, bankers and banking consultants and analysts. In selecting these top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
Tshabalala says: “We had a particularly good year in 2023. Thanks to the strength of our portfolio, the breadth of our network, and the depth of our capacities, we deliver on our strategic commitments and we are able grow very steadily over the long term.
“The group is also on track to deliver against its ambitious sustainable finance and renewable energy targets. By 2030, Standard Bank aims for net-zero carbon emissions from its newly built facilities, and by 2040 Standard Bank plans to achieve net-zero carbon emissions from its existing operations. By 2050, the bank aims to achieve net-zero carbon emissions from its portfolio of financed emissions.”
“In 2024, we will continue to support our clients, develop our employees, and deliver sustainable growth and value to our shareholders and other stakeholders. In addition, as a leading financial institution on the continent, we recognise our responsibility to have a positive impact in our regions of operation. We do so by delivering against our purpose of driving Africa’s growth,” he added. Ends
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,000 readers in 193 countries, territories and districts. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 37 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other financial services providers. These awards have become a trusted standard of excellence for the global financial community.
