Standard Bank - Johannesburg

Standard Bank London was established in 1992 and in the same year operations in Jersey and the Isle of Man were acquired. Two years later, the Isle of Man presence was broadened considerably with the acquisition of Standard Chartered’s banking activities on the island. Standard Bank acquired control of Liberty Life and entered into bancassurance arrangements in 1999. Standard Bank acquired Jardine Fleming Bank in Hong Kong and Commercial Bank of Malawi in 2001. In 2002 Standard Bank acquired Uganda Commercial Bank. In 2003 Standard Bank established investment banks in Russia and Brazil and acquired control of Banco Standard Totta de Moçambique. In 2004, Standard Bank concluded its Black Economic Empowerment Ownership initiative. A representative office was established in Angola  

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in 2007. Standard Bank took control of BankBoston Argentina with effect from 1 April 2007. Standard Bank acquired a 61% share of Dundas Ünlü with effect 1 September 2007 and commenced expanding its operations in the Turkish market under the name of Standard Ünlü. Standard Bank’s Nigerian operation, Stanbic Bank (Nigeria), was merged with those of IBTC Chartered Bank Plc (IBTC) and Standard Bank acquired sufficient additional shares at a total value of R2, 8 billion in the enlarged IBTC to establish a controlling interest with effect from 24 September 2007. In December 2007, shareholders approved the transaction whereby Industrial and Commercial Bank of China (ICBC) invested R36, 7 billion in Standard Bank for a 20% shareholding. Standard Bank increased its effective holding in Liberty from 32, 8% to 53, 7% during 2008. Standard Bank wished to increase its effective economic interest in Liberty as part of enhancing its portfolio of financial services subsidiaries and to align its commercial and economic investment and benefits so as to reflect the strategic and commercial contribution which it continues to make to Liberty.