By Our Reporter,
BUSINESS
Standard Bank has been ranked as the most valuable banking brand in Africa in 2024. This is the third consecutive year that Standard Bank has been ranked first in Africa Brand Finance’s annual ranking of the world’s Top 500 Banking Brands.
The bank also increased its brand value by 12.4% in the last year to reach over $1.9 billion US dollars. This places Standard Bank as first in Africa and 138th in the world, up 7 places from 145th in 2023.
Every year, Brand Finance assesses 5 000 of the biggest brands across the world, and publishes nearly 100 reports, ranking brands across many sectors. The world’s top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking.
Sim Tshabalala, Standard Bank Group Chief Executive says: “We are honored to receive this accolade, which affirms our commitments to providing consistently excellent service for our clients and to driving Africa’s growth”.
The Standard Bank Group, also trading as Stanbic Bank in other markets, is the continent’s largest financial services provider by assets and has a brand presence in 20 African countries and 6 international centres.
“The Standard Bank brand is a trusted symbol of growth across Africa, and for it to be deemed the most valuable bank brand for a third consecutive year is a proud moment for all our people and our clients. This tangible and independent valuation confirms that who we are and what we do as a brand is meaningful and relevant to the people, businesses, and communities that we serve,” said
Margaret Nienaber, Standard Bank Group, Chief Operating Officer.
Sim Tshabalala ranked in the 10 Top Bank CEOs
In addition to the bank’s accolade, Sim Tshabalala has been listed as one of the 10 Top Bank CEO in the Brand Guardianship Index. He has been particularly recognized as a champion for gender equality and women’s empowerment.
According to the Brand Guardianship Index, CEOs are evaluated on their capacity to generate long-term corporate value while taking into account the needs of all parties involved, including employees, investors, and the general public.
The Brand Guardianship Index said that “under his leadership, Standard Bank has become an invaluable partner in supporting initiatives such as the Top Women Conference, which celebrates the achievements of women leaders and organisations that empower them”.
The bank’s work to drive increased digitization to innovate in response to evolving customer needs through organic and targeted partnerships was also acknowledged as helping drive the organisation’s leading role.
“We strongly believe in the potential of this continent and these awards re-emphasize our commitment to continue to provide services that are tailored to meet our clients’ needs,” concludes Ms Nienaber.
