Standard Bank of British South Africa evolution has resulted in development that have led to its recent operation expansion beyond the southern African region into broader Africa and globally.
In 1863, Standard Bank opened an Orange Free State branch. Diamonds were found in 1867 at Kimberley, and Standard Bank acting commendably quickly, soon established a branch there. With Standard Bank as bankers to the diamond trade, the bank’s fortunes were revived and equipped it to play a significant part in the gold rush.
In 1877, the Standard Bank of British South Africa amalgamated with the London and South African Bank and changed its name to the Standard Bank of South Africa Ltd.
In 1962, the Standard Bank of South Africa was formed and registered as a South African company, operating as a subsidiary of Standard bank in London (subsequently to become Standard Chartered Bank plc. in 1969 after merged with Chartered Bank of India, Australia and China).
The SBG was established in 1969 as the holding company of Standard Bank of South Africa.
In 1987, Standard Chartered sold its stake in SBG, transferring complete ownership of the holding company to South Africa.
Standard Bank of British South Africa
