Standard Bank

About Standard Bank

The largest bank in Africa by assets, founded in Port Elizabeth in 1862 as The Standard Bank of British South Africa. The bank financed South African mining and agriculture. It was the bank where a young Mahatma Gandhi kept his accounts. Standard Bank merged with Charter Bank in 1969. The bank operated across sub Saharan Africa. In 1987 it separated from its British parent. Standard Bank operates in 20 African countries and has over 50 million customers. Industrial and Commercial Bank of China acquired a 20 percent stake in 2008. The bank is central to African trade finance and commodity trading.