Standard Bank Group to scale back its international operations
Given the challenging global economic climate and evolving regulatory regime for banks, Standard Bank Group's Corporate & Investment Banking business (CIB) is continuing to right size its international operations in a responsible and deliberate manner.
As part of this process, CIB will be driving higher levels of efficiency in both its front and back offices, and is planning to scale back certain product lines and geographies. These actions will be focused on CIB's geographic footprint outside Africa excluding Latin America.
Says David Munro, Chief Executive, CIB: "Our strategic positioning remains strong. However we continue to seek ways to simplify our business, reduc...