EXPLAINED - STANDARD BANK, CHINA DEAL
Standard Bank has become the first African bank to directly integrate with China's Cross-border Interbank Payment System (CIPS), allowing for real-time payments between Africa and China in yuan - thus eliminating the need to route payments through the US dollar, which can reduce costs and speed up transactions.
A CLOSER LOOK
1/ As of June 2025, Standard Bank had 19.5 million clients across the group. Its active client base in South Africa alone was 12.4 million.
2/ Standard Bank Group reported headline earnings of R24-billion and a return on equity (ROE) of 19.1% for the half-year ending June 30, 2025.
3/ Industrial and Commercial Bank of China (ICBC), a major Chinese state-owned bank, acquired a 20% stake in Standard Bank in 2007, making it Standard Bank's largest shareholder.
4/ Standard Bank was named Africa's best bank for 2025 by Euromoney. Standard Bank has also been ranked as South Africa's most valuable banking brand for four consecutive years (up to 2025), according to the Brand Finance report.
5/ The bank operates in 20 African countries and four global financial centres, with a brand presence in countries that have a combined population of nearly 800 million people.
Full story - https://t.co/WHBMDIebsf
Pictured - Sim Tshabalala, Group Chief Executive of Standard Bank
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