The Banker magazine’s annual ranking of the world’s leading banks has named Standard Bank as Africa’s top bank.

As well as scooping top spot for Africa, Standard Bank also moved up to 106th from 110th position in The Banker’s list of 1000 top banks further strengthening its position as a leading emerging markets financial services organisation.

Ian Gibson, Chief Executive of Standard Bank Offshore, said: “To be ranked as the top African bank by The Banker magazine for 2010 is a fantastic accolade and in Jersey we are all very proud of this recognition. These rankings reveal that the global banking industry is returning to health and our position within the list re-enforces our critical message that Standard Bank is a stable, well-capitalised and leading emerging markets bank.”

The Banker’s Top 1000 World banks ranking has been published annually since 1970 and tracks the World’s largest bank holding companies ranked by Tier 1 capital. The object of the survey is to show the banks’ soundness in relation to the Basel requirement of a minimum ratio of Tier 1 capital to risk-weighted assets of 4%, and a minimum ratio of total capital to risk-weighted assets of 8%.

Standard Bank’s substantial increase in the value of its Tier 1 capital and assets was acknowledged by The Banker, and resulted in the bank being ranked the second highest mover in Africa after Angola’s Banco Africano de Investmentos. South African banks maintained their premier position in Africa, occupying the top four slots in The Banker’s top 25 banks in Africa. Ends