STANBIC Bank Zimbabwe’s parent company, Standard Bank Group, has retained its seat at the top of the banking pack in Africa.
This was revealed in a 2021 annual survey pitting the top 100 banks in Africa conducted by global publication Group, IC Publications, through its leading publication, African Business.
IC Publications has over 50 years’ experience in publishing magazines, newsletters, country supplements, industry reports and market intelligence on Africa.
The survey ranks Africa’s banks according to their Tier 1 capital which consists of capital, reserves, retained earnings and minority interests. These are published in local currencies and then converted into US$ at the exchange rates at the year-end date in the results (or on December 31, 2020).
Standard Bank Group retained pole position for the second time in a row on the back of massive growth in its tier 1 capital of 24 percent to $13,8 billion in December 2020.