Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Standard Bank Group Ltd    SBKJ   ZAE000109815

News SummaryMost relevantAll newsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

Standard Bank : Tips to Malawi Entrepreneurs - Economic Fundamentals Seem Right

share with twitter share with LinkedIn share with facebook
share via e-mail
09/22/2017 | 05:06pm CEST

Standard Bank says it is well positioned to uplift small and medium enterprises reap the benefits from Malawi's current economic growth and positive outlook for Gross Domestic Product (GDP).

Speaking at an interaction with key customers in the business and enterprise egments in Lilongwe, Standard Bank Group Head of Business Banking Andrew Robertson said current growth of the economy gives entrepreneurs an opportunity to grow their business.

"Malawi's projected growth in GDP to 4.5% is better than for most countries in the region, not least South Africa where growth is stuttering at 1% of GDP. At Standard Bank, we are a partner for growth and our teams have the right expertise to guide customers navigate any pitfalls through provision of tailored financial solutions and products," he said.

In its half-year financial and economic review Reserve Bank of Malawi (RBM) projected real GDP growth to pick up to 4.5 percent, up from 2.7 percent in 2016. The central bank said there are prospects of further growth of up to 5 percent in 2018 on account of a rebound in agriculture due to favorable weather.

The central bank's review cited notable expansion in construction, wholesale and retail, financial and insurance activities as key drivers of growth.

"Despite the obvious volatilities that businesses face such as interest and exchange rates here, the economic factors for Malawi at the moment seem right," said Robertson.

During his trip in Malawi, Robertson was accompanied by Standard Bank Group's Head of Credit Richard Irvine.

The two heads visited clients in Lilongwe and held team-building interactions with the Personal and Business Banking (PBB) team that is led by Dr Margaret Kubwalo-Chaika.

In her remarks, Chaika said the bank invited the two heads from headquarters to interact closely with the Malawi customers as part of strengthening relations and understanding their needs intimately.

"We are passionate about driving growth for Malawi and Africa. Reinvigorating the African business landscape, where SMEs and large corporations are competing for their fair share of the credit cake, is crucial because it creates a growing middle class with disposable income," she said.

The PBB Head thanked customers for trusting in Standard Bank as their financial partner, and said the bank would continue to cultivate closer and intimate relations aimed at moving their businesses forward.

She said following the acquisition of a new core banking system, Finacle, Standard Bank now offers unparalleled efficiency through a number of innovative digital products powered by the new banking platform. She cited Enterprise Online and Changu pa Geni as some of the services.

One of the invited customers, Chrissy Havilah thanked Standard Bank for opening its door to SME and said she looked forward to closer engagement with the bank.

"I am glad that the bank has us in mind and takes us seriously," said Havilah, a Lilongwe-based contractor and auto-parts trader.

Copyright Nyasa Times. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

share with twitter share with LinkedIn share with facebook
share via e-mail
09/22 STANDARD BANK : Tips to Malawi Entrepreneurs - Economic Fundamentals Seem Right
09/22 STANDARD BANK : of South Africa Joins INV Fintech Accelerator
09/18 STANDARD BANK : Retrenchment benefit, a first in the market from Stanbic Bank
09/18 STANBIC BANK UGANDA : Botswana launches Achiever Banking
09/15 STANBIC BANK UGANDA : Empowers Young Professionals
09/14 STANDARD BANK : Finance Minister Gigaba congratulates new Standard Bank CEO
09/14 STANDARD BANK : Minister congratulates Standard Bank's first black CEO
09/14 STANDARD BANK : Minister Malusi Gigaba congratulates newly appointed Standard Ba..
09/14 STANDARD BANK : Purple shapes future banking landscape for entrepreneurs
09/13 S/AFRICA : Standard Bank appoints first black boss
More news
News from SeekingAlpha
03/31 WALL STREET BREAKFAST : EU Lays Out Brexit Strategy
03/31 Consequences of South Africa cabinet reshuffle?
03/16 FIRSTRAND : The Best Of The South African Banks
2016 Buy South-African Banks For Their Dividend Yield
2015 Old Mutual CEO announces departure
Financials ( ZAR)
Sales 2017 107 B
EBIT 2017 42 662 M
Net income 2017 25 288 M
Debt 2017 -
Yield 2017 5,38%
P/E ratio 2017 10,41
P/E ratio 2018 9,72
Capi. / Sales 2017 2,50x
Capi. / Sales 2018 2,35x
Capitalization 267 B
Duration : Period :
Standard Bank Group Ltd Technical Analysis Chart | SBKJ | ZAE000109815 | 4-Traders
Technical analysis trends STANDARD BANK GROUP LTD
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 12
Average target price 163  ZAR
Spread / Average Target 0,39%
EPS Revisions
Simpiwe Kenneth Tshabalala Chief Executive Officer & Executive Director
Thulani Sikhulu Gcabashe Chairman
Arno Daehnke Group Financial Director & Executive Director
Brenda Niehaus Group Chief Information Officer
Myles J. D. Ruck Independent Non-Executive Director
Sector and Competitors