Tanzania Daily News (Dar es Salaam)

Tanzania: Stanbic Named Africa's Most Valuable Bank

THE Stanbic Bank also trading as Standard Bank has been ranked as the most valuable banking brand in Africa for the third consecutive year, in the 2013 global Top 500 Banking Brands report.

The Top 500 Banking Brands is compiled by valuation consultancy and asset manager Brand Finance Banking, and is published in the leading global banking magazine, The Banker. The Top 500 Banking Brands, now in its eighth year, is the only direct comparison of brand value in the global banking industry.

According to the report, Stanbic Bank's brand is now worth about US$1.5-billion and consolidates its position as the leading banking brand on the continent. Stanbic Bank Tanzania Managing Director Bashir Awale says the milestone is testimony to the group's strategic commitment to doing business in Africa and building a world class franchise on the African continent.

"We are delighted that our brand continues to be recognised as the most valuable in Africa. This recognition is the result of many factors, the most important of which is the dedicated focus of our people and the service that they provide to our customers and clients in Tanzania and the rest of Africa.

"This ranking is a reflection of the value created in delivering what is important to our customers in different segments and markets, as we strongly believe that is what ultimately differentiates banks and builds value in a brand," he explained.

As a South African headquartered bank with subsidiaries in 17 African countries, Standard Bank also trading as Stanbic Bank Tanzania is uniquely positioned to service clients doing business on the continent. In addition, Stanbic Bank Tanzania which is part of the Standard Bank Group was ranked 103rd amongst the world's top 500 global banks.

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