The Standard Bank Group, to which Stanbic IBTC Bank Plc belongs, has reiterated the importance of the Nigerian market in its growth strategy.

Standard Bank Group CEO, Jacko Maree, who disclosed this during the annual Reuters Africa Investment Summit which held in South Africa last week, emphasized  that Standard Bank Group will continue to focus on expanding its presence in key African markets, notably Nigeria, Angola, Ghana and Kenya, even while it strategically manages costs.

“We are not going to slow down on our plans in Nigeria,” Maree said. “There are more opportunities for the bank’s businesses in Ghana and Nigeria to cooperate; while the outlook for Kenya is also promising.

Those would be the four markets that will probably get the most of our attention and to the extent that we’re rationing capital expenditure, we won’t be rationing in those countries.”

The comments clearly reinforce Standard Bank Group’s aggressive regional expansion drive. This is expressed in Nigeria through Stanbic IBTC Bank, which in its ongoing retail expansion drive has in the last 18 months grown its branch network to more than 150 branches spread across the country.

Maree said Standard Bank Group’s “commitment and belief in Nigeria remains strong” as the bank would continue to “build and grow” in Nigeria, with emphasis on organic growth. He stressed that Nigeria presents Standard Bank Group with “the single biggest opportunity”.

Part of the Standard Bank Group’s competitive edge is its combination of increasing local market knowledge and expertise with the international connections that come from the bank’s growing global footprint.

Standard Bank Group is focused on connecting Africa with key selected emerging markets, like Brazil, China, India and Russia. The group’s footprint spans across 16 countries on the African continent and 15 countries outside of Africa.

Standard Bank Group’s Corporate and Investment Banking division is a leading player in emerging markets and offers its clients; trading, investment, risk management and advisory services.

It has specific sector expertise in industries relevant to its global footprint, with strong sector value propositions in mining and metals; oil and gas, power and infrastructure as well telecommunications and media.