10 Things you should know about Standard Bank

Standard Bank is a brand founded by John Paterson. Here are 10 Things you should know about Standard Bank.

1. The Standard Bank of South Africa Limited is a South African financial services group and is Africa’s biggest lender by assets.
2. The company’s corporate headquarters, Standard Bank Centre, is situated in Simmonds Street, Johannesburg.
3. The bank was formed in 1862.
4. It is a South African subsidiary of the British overseas bank Standard Bank.
5. The bank’s origins can be traced to 1862, when a group of businessmen led by the prominent South African politician John Paterson formed a bank in London, initially under the name Standard Bank of British South Africa.
6. The bank started operations in 1863 in Port Elizabeth, South Africa.
7. Soon after opening it merged with several other banks including the Commercial Bank of Port Elizabeth, the Colesberg Bank, the British Kaffrarian Bank and the Fauresmith Bank.
8. It was prominent in financing and development of the diamond fields of Kimberley in 1867.
9. The word “British” was dropped from the title in 1883.
10. When gold was discovered on the Witwatersrand, the bank expanded northwards.