20 June 2012
Standard Bank Group wins prestigious award in China
Standard Bank Group has been recognised as the Best Investment Bank in China for
2011/2012. This was announced at the recent China Outbound Investment Summit 2012,
held in Beijing.
At the award ceremony, the panel of judges referred to Standard Bank Group's strategic
BRICS (Brazil, Russia, India, China and South Africa) focus, innovative approach
and diverse cross border deals as being reasons for the award.
There was specific reference to three recent and unique China-Africa transactions,
namely the 'world first' Central Bank of Nigeria reserve currency transaction, advising
Metorex on Africa's largest mining investment by Jinchuan and for advising and facilitating
China Investment Corporation's (CIC) investment in Africa's diversified industrial
Craig Bond, Chief Executive of Standard Bank China, said: "We are exceptionally
proud to be honored here in China for the work we are doing with our strategic partners,
the Industrial and Commercial Bank of China, in linking China to Africa and other
key emerging markets. The very nature of the relationship between China and Africa
means we can really make an impact by having expertise on the ground in both China
and the relevant corresponding geographies."
Mr Bond added: "Because of our presence and intimate understanding of Africa and
its risks, we have been able to really help our Chinese clients understand the nuances
of the transactions we work on. Likewise, through our presence in China and with
our partners ICBC, we are able to help emerging markets clients navigate and work
well with China."
In the three transactions specifically mentioned, Standard Bank Group advised and
provided a comprehensive solution of banking services and products to its clients
where each one was distinct in its nature and were "first-time" transactions.
In the Central Bank of Nigeria deal, the Nigerian government became the first country
to take on Renminbi as a portion of its currency reserves. The bank also advised
CIC on its first equity investment in Africa. The Jinchuan transaction was also
its first full acquisition in Africa.