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Banks and their host economies enjoy a symbiotic
relationship. As economies grow, so do banks,
and conversely. Our commitment to Africa is visible
in our willingness and ability to expand our footprint
through a growing network of branches and ATMs
along with our ability to bring new banking and
related financial products and services to a growing
number of customers, many of whom were previously
unbanked.
By the end of 2004, Standard Bank and Stanbic
Bank brands had established 234 points of
representation. Our combined African banking operations
employ about 5 700 people who are jointly
responsible for managing more than 1,6 million
bank accounts. We also increased our ATM network
to 314 by December 2004. We intend to expand
our African ATM network further in 2005.
Standard Bank contributes indirectly, and increasingly,
towards Africa's infrastructural development by
providing project finance. Through our Corporate
and Investment Bank operations we are currently
involved in three major African infrastructure
funds. Details of these funds can be found here.
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