Standard Bank Group has been named the best foreign exchange provider in Africa at the recent 2016 global finance world’s best foreign exchange providers awards.
This marks the fourth year in a row in which Standard Bank has won in the Africa category.
Stanbic Bank Zambia, head of corporate and investment banking Helen Lubamba said Stanbic Bank Zambia was the most profitable bank in Zambia.
“We are delighted to receive this award from such a prestigious publication. They provide further confirmation of the success of our client-focused strategy and desire to serve clients through our well-established on-the-ground presence in Zambia and our global connectivity that links clients to opportunities in Africa,” she said.
And head of foreign exchange at Standard Bank Richard de Roos said the bank’s extensive footprint across Africa and its connectivity to international markets had enabled it to tap into pools of capital from across the world to boost the continent’s currency markets at a time when liquidity levels across most jurisdictions have come under threat due to weak economic conditions.
“We are thrilled to have received this recognition for our work in a field that is so important for maintaining Africa’s economic growth. In Africa, clients value quality service above all else, and having built experience across the continent for over 152 years, our on-the-ground presence and local insight help us to connect our clients to opportunities across Africa and beyond,” he said.
Mr de Roos said foreign exchange platforms needed to be dynamic enough to accommodate the changing regulatory landscapes across the continent.
He further said there was need to enhance the operational efficiency within a client’s organisation by adapting to systems in which they executed their foreign exchange transactions.
“Retaining this position means Standard Bank has remained consistent in helping our clients realise opportunities while managing their risks, even through periods of great volatility and different economic cycles,” says Mr de Roos.
The annual global finance magazine awards recognised the leading players in foreign exchange trading in 95 countries and across nine global regions, and its criteria for choosing the winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.