Standard Bank Group Limited has announced plans to boost investments in mid-sized companies across Africa, aiming to capitalize on opportunities in Nigeria and other key markets on the continent. The bank intends to leverage its strong regional presence to support the growth of intra-continental African businesses and accelerate its earnings through 2028, according to Bloomberg.
Focus on Key Markets
Africa's largest lender said it will strengthen its operations in South Africa while expanding in Nigeria, Ghana, Kenya, Uganda, and Tanzania. These markets collectively account for about 85% of its estimated $15.4 billion revenue.
Strong Performance in Business Banking
Standard Bank attributed the strong performance of its business and commercial banking operations over the past five years to growing demand for banking services among African businesses. The unit doubled its earnings and return on capital since 2020, sustaining growth across the continent.
“From 2020 to 2025, we have doubled headline earnings, and doubled the return on capital in the business from 19% to 38%,” Standard Bank stated. The lender added that its earnings across the continent averaged 30% annually over the period.
Long-Term Goals in South Africa
The bank also disclosed plans to maintain leading roles in South Africa’s banking markets for the long term, despite increasing competition. “We think that it is very important to be strong in South Africa and long term, we will be wanting to challenge for that No. 1 position,” the lender said.
Growth Targets
Relying on opportunities from business expansion and regional trade, Standard Bank expressed confidence that its business and commercial banking unit could exceed current growth targets, with expectations of double-digit growth in the future. The bank targets annual compounded growth between 8% and 9% through 2028.
“We target 8% to 9% compounded annual growth rate for BCB until 2028, but actually we see it growing into the double digits as you get close to 2028,” the bank stated.
About Standard Bank Group
Standard Bank Group Limited is Africa’s largest bank by assets, headquartered in Johannesburg. It provides retail, business, commercial, corporate, and investment banking services, as well as insurance and wealth management solutions. Listed on the Johannesburg Stock Exchange, it serves millions of customers across the continent. The bank operates in about 20 African countries, financing trade, infrastructure, energy, mining, agriculture, and other sectors through its corporate and investment banking arm and business banking network.
