Standard Bank Group, the market leader in the home loans segment, says it will use its heft to grow its business banking offering, as it seeks to fight off rising competition in the space. The continent’s biggest lender by assets will look to capitalize on its scale and geographical footprint to drive growth in the division, Chief Executive Officer Sim Tshabalala said during an investor briefing Friday.
African Bank announced in May that it would buy Grindrod Bank. Tshabalala also said the lender is heightening its focus on climate change, and expects its green loan book to grow to at least R250 billion by the end of 2026, up from an expected R50 billion at the end of this year. “We have started work on the complex process of quantifying the emissions that we face,” Tshabalala says, adding that the timetable would be announced in “due course.