Windhoek
2015 marks the year that Standard Bank Namibia turns 100 years old. To observe the occasion the bank is celebrating the successes of its people, the industry, its customers, stakeholders and the country that have contributed to what it is today.
Ever since it opened its first branch in the coastal town of Lüderitz back on August 19, 1915, Standard Bank Namibia has grown tremendously and now has over 1 500 staff members, 50 branches, 180 ATMs and 400 000 bank accounts.
Today with a positive financial performance of N$235 million profit after tax for the past six months ended June 30, 2015, Standard Bank Namibia’s customer base covers the whole country with all its blue chip corporates, including the sectors of mining, financial services, retail, power, infrastructure, industrial and state owned enterprises.
Recently addressing a well-attended centennial gala event, Standard Bank Namibia Chief Executive Vetumbuavi Mungunda said the bank’s 100th year of existence is a significant milestone given the strong heritage built on customer centricity, a sound reputation and continuous innovation. Hence, Mungunda said, the importance of the centennial celebration.
“It is not only to celebrate the existence of the bank in Namibia, but also to engage with you, our customers, stakeholders and former and current staff members as we reflect on the past and contemplate the future. We have a responsibility as the current leadership and workforce of the bank to build on what was given to us by the previous generation, improve on it and leave it in a better and improved state,” said Mungunda.
Keynote speaker on behalf of President Hage Geingob was Finance Minister Calle Schlettwein, who applauded Standard Bank Namibia for contributing positively to the economic development of the country.
Among other highlights of the bank, the minister singled out the localization of shares to its staff last year. “The 2014 localization empowerment scheme amounting to 10 percent of total shares of some N$300 million for employees and the Community Trust is a key milestone and a commendable starting point in the transformation of Standard Bank to serve the country better with increased local ownership and representation.”
Also commenting on the same issue at the event was Standard Bank’s Group CEO, Sim Tshabalala, who said the bank is fully committed to equitable distribution of income and opportunities through the broad-based empowerment scheme.
“Empowering our employees as shareholders and extending our corporate social investment contribution at community level, is just part of our commitment to implementing the principles of the Financial Sector Charter.
We recognise that the transformation process affects every aspect of our business and we will continue working with government and the community to ensure that our business activities support the development of a fairer, more prosperous and more inclusive society,” said Tshabalala.
Standard Bank Namibia’s centennial gala event was attended by close to 300 dignitaries comprising senior government ministers, regional governors, executives from the banking sector, captains of industry from the public and private sectors, long standing corporate clients, directors of various boards and members of the diplomatic corps.