Standard Bank Group CEO visits Malawi

Standard Bank
Standard Bank

Standard Bank Group joint chief executive officer (CEO) Ben Kruger is in Malawi for a two-day visit of the country’s operations.

During the visit, Kruger will interact with local management of the bank to appraise himself of progress of Standard Bank operations in Malawi. He will also interact with key corporate and personal customers in Lilongwe.

Standard Bank Malawi head of marketing Chimwemwe Matonga said the group CEO’s visit aims to further strengthen the bank’s relations with customers.

Building sound and mutually profitable relations with customers remains a key strategy moving Standard Bank forward in Malawi.

“Mr. Kruger will personally meet our customers over breakfast to interact with them to understand their needs. The customers have been drawn from strategic sectors of the economy, namely government/public sector, donor community, business and industry,” he said.

Kruger, a Harvard University-trained chartered accountant and business executive, was appointed as joint CEO of Standard Bank Group—along with Sim Tshabalala—in March following the retirement of the group’s former CEO Jacko Maree.

He has worked for the group—Africa’s leading bank by assets—for 28 years.

This year, Standard Bank was named Best Investment Bank in Africa as well as the Best Bank in South Africa, by prestigious international finance magazine Euromoney.

Standard Bank also received awards for Best Equity House and Best Risk Manager in Africa.

In recognising Standard Bank for the Best Investment Bank in Africa Award, Euromoney editor Clive Horwood highlighted how “the bank has benefited from its expansion in Africa, pushing it ahead of the competition. It has a clear advantage in South Africa, where it is the biggest bank by assets”.

The latest Euromoney awards add to Standard Bank Group’s list of accolades already received so far in 2013.

Standard Bank Malawi—listed on the Malawi Stock Exchange (MSE)—has just posted a K5.6 billion after-tax profit in the half year ended June 30 2013, a 33 percent jump from last year’s K4.2 billion, which is in line with its earlier forecast.

According to the results for the six months ending June 30, the bank’s assets that include cash and jumped 33 percent to K128.9 billion from the previous year’s K97.1 billion.

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