INTERNATIONAL BANKING NEWS
Standard Bank named Most
Innovative Investment Bank
from Africa
Global financial publication The Banker magazine has named Standard Bank the
“Most Innovative Investment Bank from Africa”. Standard Bank attributes this
award to its deep sector expertise, skills and relationships across the continent,
noting that its Investment Banking franchise also played a role in key deals in the
continent’s mining and metals, oil and gas, and power and infrastructure sectors.
David Munro, Chief Executive, Corporate and Investment Banking (CIB), Standard
Bank, said the award was appreciated because it is an
external, objective assessment of what the bank is trying to achieve at CIB:
“Ensuring that large global multinational corporations and
South African companies are able to do business in Africa; and
providing access for African companies to the international
capital markets.”
CIB’s top six markets are said to be South Africa, Nigeria, Kenya, Angola,
Mozambique and Ghana.
Paypal and eBay to split
Despite previously insisting that its two businesses
would continue together, eBay’s board of directors
and CEO John Donahoe have announced that
the PayPal and eBay marketplace businesses
will be split into separately traded public
companies by the middle of 2015. Donahoe will
step down as CEO of eBay once the split takes place.
Australia to
curb risky
mortgage
lending
The Australian Prudential
Regulation Authority (APRA)
warns that it is cracking down on
lending and will force banks to
hold more capital if they engage
in risky lending. Institutions
like the International Monetary
Fund have also warned of the
danger of asset price bubbles
due to low interest rates.
APRA will review banks’ lending
practices during the first quarter
of 2015, focusing on areas
including higher-risk mortgage
lending, accelerating credit
growth and loan affordability.
Nigerian eID cards: the
widest financial inclusion
programme in Africa
Currently in pilot phase, the Nigerian Identity
Management Commission (NIMC) will issue
MasterCard-branded identity cards with electronic
payments functionality to 13 million Nigerians.
The eID card is a core component for NIMC in its
mandate to maintain and operate Nigeria’s first
central National Identity Database, providing proof
of identity to Nigerians of 16 years and older.
The eID card boasts 13 applications, including
MasterCard’s prepaid payment technology
and Cryptovision’s biometric identi