It’s one of the largest banks in Namibia and operates from more than 50 branches. So there was a familiar ring to the announcement on January 29th that ICBC would buy a 60% share of Standard Bank PLC, a London-based entity that trades currencies, commodities, stocks and bonds. Its parent in South Africa had found it hard to make the operation profitable.
- By 2010 that had changed, to the extent that Standard Bank was rated by Finweek’s review of SA bank charges as having amongst the highest bank charges in the country.
- Although BizFlex is currently only available to qualifying Standard Bank business clients in South Africa, “we are considering rolling BizFlex out to other African markets,” says Segal.
- Ideal as a short-term credit facility, you can access funds whenever you need it and only pay interest on the outstanding balance.
Until 1962 the British bank was formally known as the Standard Bank of South Africa, although by then its operations spread across Africa. When the South African operations were formed into a subsidiary in 1962, the parent changed its name to Standard Bank Limited, and the South African subsidiary took its parent’s previous name. For the British overseas bank, now part of Standard Chartered, see Standard Bank . Melville Douglas is the boutique investment management arm within the Standard Bank Group. Since 1983, Melville Douglas has been delivering superior performance managing investments on behalf of a wid…
Improve competitive bidding with insights into all publicly disclosed IT services contracts for Standard Bank Group Ltd (including IT outsourcing, business process outsourcing, systems integration & consulting and more). Although BizFlex is currently only available to qualifying Standard Bank business clients in South Africa, “we are considering rolling BizFlex out to other African markets,” says Segal. More generally, “data shows the difficulties South African businesses experience when trying to access flexible credit quickly are impacting their ability to survive and grow,” says Darren Segal, head of Standard Bank’s Moonshots. Earlier this month, digital bank TymeBank said it had reached an agreement with Retail Capital and its shareholders to acquire 100% of the fintech SME funder’s shares, subject to regulatory approval.
Texas mutual fund company says underweight the U.S. stock market and buy international equities. Standard Bank’s BizFlex digital loan facility has disbursed R3 billion to small, medium and micro enterprises in the past three years. Loan facility for business expansion, purchase of new business space or expansion of existing outlets and capital machineries and also to purchase light or heavy vehicles for business use. Any entrepreneur having the experience of successfully managing the business for at least two years may apply for the loan. A bank guarantee is a contract in which the bank guarantees payment of your obligations, even if your circumstances change and you are unable to cover the costs yourself. This enables you to bid for contracts that call for guarantees and to buy fixed property where a guarantee is usually a prerequisite.