Standard Bank, trading as Stanbic Bank, has been formally awarded a banking license in Côte d’Ivoire. The Group opened a representative office in December 2013, signaling a drive towards establishing a presence in Francophone West Africa, and is now gearing up to commence banking operations in a market which stands out for its diverse, rapidly growing economy and business friendly reputation.
The country currently enjoys one of sub-Saharan Africa’s fastest Gross Domestic Product (GDP) growth rates, expected to maintain seven per cent or more over the next three years.
“We are delighted to be actively expanding into this attractive market alongside many of our existing multi-national corporate clients and look forward to partnering them and other players, as well as supporting enterprises considering entering Côte d’Ivoire and the wider region for the first time”, Stanbic Bank CEO Hervé Boyer said.
Boyer said Stanbic Bank in Côte d’Ivoire will provide the same high quality Corporate and Investment Banking products, advice and service experience that customers have come to expect across the continent.