Our purpose is to drive Africa’s growth. We are committed to being more than a provider of financial products and services – we are a catalyst for economic change in our countries of operation and we make life better for our fellow Africans by doing the right business the right way. On this page you will find an overview of Standard Bank and why we believe in ‘reporting to society’.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa is our home, we drive her growth. We aim to make life better for our fellow Africans by doing the right business, the right way, contributing to the financial wellbeing of our clients, and supporting sustainable and job-creating growth of the economies in which we operate.
On this page:An account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Our reporting to society platform aims to communicate with a broad group of stakeholders about how we approach Environmental, Social and Governance (ESG) processes, and how we impact on the societies, economies and environments in which we operate.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
SEE requires us to take a long-term view, and to assess the positive and negative impacts of every business decision not just for the group, but for the communities in which we operate.
On this page:An account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
We have a series of internal policies, procedures and controls in place to ensure that accurate data is provided. Our group social and ethics committee provided oversight of this report. PricewaterhouseCoopers provided limited external assurance on selected performance data in this report, indicated by a (tick), in accordance with the International Standard on Assurance Engagements (ISAE 3000). The scope of the assurance engagement and the statement of assurance are provided in this section.
Download PDFAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
We’ve identified seven areas in which we believe we can best achieve our purpose, to drive Africa’s growth, while making a substantial positive impact on society, the economy and the environment.
SEE moreAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Financial inclusion supports economic and human development and reduces inequality. Achieving financial inclusion requires that individuals and businesses have access to useful and affordable financial products and services that meet their needs, delivered in a responsible and sustainable way. This includes payments, savings, credit and insurance.
Summary Digital solutions to improve access and affordability Consumer education Providing solutions to encourage people to save and plan for their future financial security Enabling home ownership Insurance Remittance servicesAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Standard Bank adopted health an additional SEE impact area in 2019, in line with SDG 3, to ensure healthy lives and promote well-being for all at all ages, and in recognition that attainment of several other SDGs, including ending poverty and reducing inequalities, depends on improving the health of Africa’s people.
Summary Affordable health and life insurance solutions Provision of medical equipment and infrastructure Corporate social investmentAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Job creation and enterprise growth drives economic development and alleviates poverty. Standard Bank works with our clients to understand their challenges and priorities, provide them with appropriate financial solutions to support their growth and expansion into new markets, and deliver digital solutions to meet their unique needs. We also provide targeted support to our SME clients, to help them develop their businesses, grow their skills, manage cash flow and access new business opportunities.
Summary Partnering with Africa’s fintech entrepreneurs Standard Bank incubators and enterprise development services Innovative credit solutions Technological solutions for small-scale farmers to improve productivity and access to finance Partnership with UN Women to improve women farmers’ productivity through climate smart agriculture Services tailored for small enterprisesAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Improvements to energy, water, transport and telecommunications infrastructure facilitate economic growth and create opportunities for job creation and human development. Crucial public infrastructure, like schools and housing, helps people improve their standards of living and future prospects. Standard Bank works with governments, development finance institutions and other commercial banks to structure and provide appropriate financial solutions to address Africa’s infrastructure gaps.
Summary Energy infrastructure Transport infrastructure Telecommunications infrastructure Sustainable housing School infrastructureAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa’s growth depends on her people having access to quality education, and the promotion of skills training and lifelong learning opportunities in the context of the fourth industrial revolution. Standard Bank supports this in various ways. We work with partners in the education and corporate sectors to address the challenge of affordable and accessible student finance.
Summary Corporate social investment Access to student finance Employee developmentAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
African economic growth depends on the ability of African governments and businesses to access international investment and value chains. Standard Bank helps facilitate investment and trade flows between African countries, and between African countries and global markets, drawing on our presence in major international markets, our ability to access international pools of capital, our strong client relationships with global multi-nationals, and our strategic partnership with ICBC.
Summary Facilitating investment in Africa Helping African governments and businesses access capital Connecting China and Africa Taking the friction out of trade financeAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Africa is extremely vulnerable to climate change, with major implications for agricultural production, food security, access to water, health and livelihoods. Many parts of the continent are already experiencing increased water stress as a result of prolonged drought, while yields from rain-fed agriculture are declining in many areas.
Summary Managing climate-related risk Sustainable finance Working with businesses and households to implement smallscale green energy solutions Sustainable bond framework Sustainable trade finance UN Principles for Responsible BankingAn account of our social, economic and environmental impacts and how these contribute to our sustainability and ability to achieve our purpose. It includes our environmental, social and governance report, and Standard Bank South Africa’s transformation report.
Standard Bank recognises that our core business activities must contribute to the prosperity and wellbeing of the societies and environment in which we operate. This understanding defines our purpose: Africa is our home. We drive her growth, and is supported by sound environmental, social and governance (ESG) management.
This report provides an overview of the groups ESG policies, processes and governance structures in place to support our commitment to doing the right business the right way.
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Our report highlights how we ensure that a strong ethical culture and appropriate conduct is embedded across the group - reflected in the way in which we treat our clients, suppliers and partners, how we support and develop our people, and how we impact on the societies in which we operate.
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
“Around the world, investors, regulators and standard setting bodies are demanding greater transparency about how businesses are managing non-financial risks, particularly those created by climate change. Social expectations about the role and responsibilities of business in general also continue to change. Our business depends on us being a trusted partner to a broad range of stakeholders, including our clients, our regulators, our business partners and the communities in which we operate.”
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
The Standard Bank Group board is responsible for ensuring the Standard Bank Group conducts itself as a responsible, ethical corporate citizen
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank’s material issues are those that matter most to our key stakeholders and providers of capital, and impact on our ability to create value in the short, medium and long term. Our material issues are informed by the expectations of our stakeholders, and the economic, social and environmental context in which we operate.
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Stakeholder engagement is part of our everyday business. We depend on constructive relationships with our diverse stakeholders to achieve our purpose of driving Africa’s growth, understand stakeholder expectations, and help us identify the material issues impacting our business.
On this page:This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Achieving our group purpose and strategy depends on our reputation as a trusted partner across Africa. The group's code of ethics, organisational culture and values determine how we do business and with whom we do business.
How we do business Ethics and values Managing our risks Whistleblowing UN Principles for Responsible Banking Respecting human rights Our approach to tax matters Our approach to procurement Personal Conduct and managing conflicts of interest Market conduct and treating our customers fairly Market abuse controlThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank’s ESG risk assessment process is based on international best practice. The group adopted an environmental and social risk governance standard and policy in 2018, which set out the principles under which we identify, measure, manage and report on environmental and social (E&S) risk.
Managing our environmental and social risks Managing E&S risk in lending Managing climate risk Reducing our direct environmental footprintThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
There is an increase in opportunities to deliver sustainable and impactful investment expertise to our clients and stakeholders across a broad range of growth themes.
Sustainable finance Sustainable Bond Framework Sustainable trade finance Investment in renewable energy Working with businesses and households to implement smallscale green energy solutionsThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
How our people think and feel about their work correlates directly with how satisfied our clients are, and how successful we are in delivering our strategy and performance aspirations. We strive to create a work environment in which our people feel deeply connected to our purpose, their colleagues and our clients.
Our people Leadership development Employee development Talent attraction and retention Diversity and inclusion Employee wellbeingThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Standard Bank aims to create shared value through our corporate social investment (CSI) initiatives, addressing social needs in a sustainable manner. Our CSI programme aims to deliver benefits for the communities in which we operate, while enhancing our visibility and reputation, improving our employee experience, and demonstrating our local relevance
SEE moreThis report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
We understand that the responsible management of environment, health, safety and social responsibility issues is important to our growth, profitability and long-term success. This section provides a selection of our ESG performance data from 2017 – 2019 and a view of our governance policies.
On this page:
This report provides an overview of our environmental, social and governance (ESG) practices and performance for 2019.
Our 2019 B-BBEE certificate.
Download PDFThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
Standard Bank South Africa’s (SBSA) Transformation report provides an overview of the activities that we perform to support economic inclusion and transformation in South Africa. The report is structured according to the elements of the Financial Sector Code (FSC) and covers the initiatives, projects, and strategies we’ve put in place to drive transformation within the bank and the economy.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
The transformation of South Africa’s economy is a multifaceted and long-term undertaking. We are committed to playing our role in supporting this transformation.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
“We reflect our commitment to improving societies in our SEE value driver, which drives our strategy and is one of the measures against which we assess our performance.”
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
In 2019 we maintained our Level 1 rating and also improved our score from 111.45 in 2018 to 117.33 in 2019.
The report is structured according to the elements of the Financial Sector Code and covers the initiatives, projects, and strategies that are in place to drive transformation. Our B-BBEE scorecard highlights our performance in 2019.
Standard Bank’s BEE Scorecard 2019 Ownership Management control Skills development Preferential procurement Socioeconomic development and consumer education Empowerment financing and enterprise and supplier development Access to financial servicesThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
More information about the ways in which Standard Bank is impacting on the economies and societies in which we operate.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
The transformation of South Africa’s economy is a multifaceted and long-term undertaking. We are committed to playing our role in supporting this transformation. We recognise that broad-based black economic empowerment (BBBEE) is a moral, legal and commercial imperative, crucial to securing a more sustainable growth path for South Africa.
SEE moreThis section of our reporting suite looks at how The Standard Bank of South Africa (SBSA) is enabling the transformation of South Africa’s economy through our broad-based black economic empowerment programmes.
Financial inclusion is related to economic growth, efficiency, dignity and welfare. Low levels of financial inclusion undermine the integrity of the financial system and pose a risk to socioeconomic development. We scored 9.95 out of 12 for this element of the scorecard, lower than our scores in 2018 and 2017.
* | Availability of cash withdrawal facilities per number of qualifying customers based on population density in the agreed measured area. |
Our offering is aligned with the banking behaviour of the majority of South Africans, who increasingly choose digital channels over face-to-face options to conduct their financial transactions. In 2019, 99% of transactions by SBSA customers were conducted digitally. However, SBSA scored only 14% against a target of 35% for electronic access for people earning up to R6 880 per month, owing to the specific parameters against which the indicator is assessed.
Digital solutions enable us to meet human needs and to further human aspirations, in a costeffective and sustainable manner. Our digital wallets and apps enable our customers to transact efficiently, safely and conveniently.
For example:
As our clients move increasingly toward digital channels and away from the use of branch-based services, we need to adjust accordingly.
In line with changing customer behaviour, we closed 90 branches in South Africa in 2019. Fewer than 100 employees were formally retrenched. Many of the impacted employees were successfully redeployed to other roles in the bank. 920 opted for voluntary retrenchment.
We currently have 528 branches in South Africa, and are investing in the development of 244 of our most used branches, to better meet our customers’ needs. We continue to work with our clients to raise awareness of alternative options to branch services, while acknowledging that some people prefer to use a physical branch for certain banking requirements.