Standard Bank Sells 53% of Turkish Unit to Focus on Africa
- Written by Admin TOA
- Published in Businessman

“Turkey is an important enough country for us that we are not pulling out completely,” said Martin Botha, a director at Standard Bank.
While Standard Bank (SBK) last year said it didn’t plan to sell the Turkish business, the sale is part of a global strategy that includes selling assets in Argentina and Russia, according to Botha. The lender, which has about $1 billion in surplus capital after the sales, is trying to improve the profitability of its operations in Africa.
Standard Bank (SBK) rose as much as 2.3 percent, the biggest intraday gain in more than three months, and closed up 1.2 percent at 112.60 rand in Johannesburg trading.
To contact the reporter on this story: Renee Bonorchis in Johannesburg at
Last modified onSaturday, 06 May 2017 10:07
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