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Our history in Africa

Standard Bank was established 145 years ago in Port Elizabeth (now part of the Nelson Mandela Bay Municipality). In 1886, we became the first bank to open a branch in the new mining town of Johannesburg, where today you’ll find our head office.

Standard Bank was listed on the Johannesburg Stock Exchange in 1970. In 1987, Standard Chartered divested itself of its South African interests and sold its 39% share to our existing shareholders.

In 1988, Standard Bank began re-establishing its African links, expanding operations in sub-Saharan Africa. Today, the Group has operations in Namibia, Lesotho, Swaziland, Botswana, Angola, Kenya, Nigeria, Uganda, the Democratic Republic of Congo, Zambia, Zimbabwe, Mozambique, Mauritius, Ghana, Tanzania, Madagascar and Malawi. It also has a presence in Russia, Brazil, Argentina and Turkey.

Milestones

1863	Standard Bank of British South Africa began operating in Port Elizabeth
1883	The bank was renamed The Standard Bank of South Africa Limited
1885	Standard Bank’s head office moved from Port Elizabeth to Cape Town
1886	Standard Bank opened an office in a tent at the mining camp which evolved into Johannesburg. It was the first bank in Johannesburg
1892	Standard Bank opened its first branch outside of South Africa, in Salisbury, Southern Rhodesia (now Harare, Zimbabwe): the first bank in that country
1893	Opened in Northern Rhodesia (now Zambia), the first bank in the country
1894	Opened in Portuguese East Africa (now Mozambique)
1897	Opened in Bechuanaland (now Botswana)
1901	100th branch opened, in Port Shepstone Opened in Basutoland (now Lesotho); and Nyasaland (now Malawi)
1911	Opened in British East Africa (now Kenya); Belgian Congo (now DRC); and Zanzibar
1912	Opened in Uganda
1915	Opened in South West Africa (now Namibia)
1916	Opened in Tanganyika (now Tanzania)
1920	Acquired African Banking Corporation
1953	Standard Bank’s head office moved to Pretoria
1959	Standard Bank’s head office moved to Johannesburg
1961	More than 200 branches and agencies of the bank in Africa were outside South Africa and South West Africa
1969	Standard Bank Investment Corporation (Stanbic) was incorporated as a holding company, with seven subsidiaries (now known as Standard Bank Group)
1978	Standard Bank South West Africa Limited became a subsidiary of Stanbic
1987	Standard Chartered sold its remaining 39% in Stanbic, transferring the entire ownership to South Africa
1988	Standard Bank established Union Bank in Swaziland
1990	Standard Bank South West Africa Limited became Standard Bank Namibia Limited
1992	Standard Bank registered Union Bank of Botswana Limited
1993	The operations of ANZ Grindlays Bank (AGB) in eight African countries, acquired in 1992, were renamed Stanbic Bank (except Merchant Bank (Ghana) Limited)
1995	AGB acquired Lesotho operations of Barclays Bank plc Lesotho and the Tanzanian operations of Meridien BIAO Bank Tanzania Limited (renamed Stanbic Bank Lesotho Limited and Stanbic Bank Tanzania Limited)
1996	Swaziland operations of Barclays Bank plc London were acquired and merged with Stanbic Bank Swaziland Limited; Stanbic Bank in Lesotho and Swaziland became Standard Bank operations The remaining equity in Stanbic Bank Uganda Limited, formerly held by the Uganda government, was acquired A 40.7 % share of the equity in Bank Standard Totta de Mozambique SARL was secured
1999	Formed Lesotho Bank, with the Lesotho government Acquired 93% in Union Mortgage Bank, Ghana (renamed Stanbic Bank Ghana Limited), sold stake in Merchant Bank (Ghana) Changed the name of Africa Banking Group to Stanbic Africa
2002	Stanbic was renamed Standard Bank Group, but Stanbic Africa remained unchanged in the bank’s African operations
2001	Granted a universal banking licence in Nigeria Opened a representative office in Cote d’Ivoire Acquired 60% of Commercial Bank of Malawi (renamed Stanbic Bank Limited) Acquired 80% of Uganda Commercial Bank (merged with Stanbic Bank Uganda Limited)
2004	Standard Bank concludes its Black Economic Empowerment ownership initiative
2006	Standard Bank launched Uganda’s biggest initial public offering, for its Ugandan unit
2007	Standard Bank acquired a controlling interest in IBTC Chartered Bank, Nigeria
2008	Standard Bank finalises Strategic Partnerhisp with ICBC, the world’s biggest bank CfC Bank transaction in Kenya receives regulatory approval

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Did you know?

• Standard Bank has been selected as the Best Emerging Market Bank in Africa as well as South Africa in the annual Global Finance magazine's "Best Emerging Market Banks in Africa" survey. Read more

• Standard Bank’s African business grew overall by 58% in 2007.

• Standard Bank has over 700 branches in South Africa and more than 200 in the rest of Africa.

• Standard Bank has a mobile phone branch locator tool.
Surf to standardbank.mobi to on your phone find out more.

» See our achievements in Africa