Standard Bank ranked as Africa’s most valuable banking brand for the third consecutive year

* In recognition of the increase in its brand value by 12.4% in the last year to reach over US$1.9 billion

Placing Standard Bank as first in Africa and 138th in the world, up 7 places from 145th in 2023

By Duncan Mlanjira

Standard Bank has been ranked as the most valuable banking brand in Africa in 2024 for the third consecutive year by Africa Brand Finance in its annual ranking of the world’s Top 500 Banking Brands.

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A statement from the bank says this is in recognition of the increase in its brand value by 12.4% in the last year to reach over US$1.9 billion — placing 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 is quoted in the statement as saying: “We are honoured to receive this accolade, which affirms our commitments to providing consistently excellent service for our clients and to driving Africa’s growth.”

Sim Tshabalala, Standard Bank Group Chief Executive

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.

On her part, Standard Bank Group, Chief Operating Officer, Margaret Nienaber said: “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 who we are and what we do as a brand is meaningful and relevant to the people, businesses, and communities that we serve.”

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In addition to the bank’s accolade, Sim Tshabalala has also been listed as one of the 10 Top Bank CEO in the Brand Guardianship Index. He has been particularly recognised 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 digitisation 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-emphasise our commitment to continue to provide services that are tailored to meet our clients’ needs,” says Nienaber in the statement.

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