In 2008, the largest bank in the world, ICBC (Industrial and Commercial Bank of China), acquired 20.1% shareholdings in the group. Thereupon ICBC became Standard Bank Group’s single largest shareholder and the strategic partner; the cooperating areas include Corporate & Investment Banking, Personal & Business Banking, Global Markets and Cash Management, Risk Management, Wealth & Investment Management and Fund Management. Our business philosophy is migrated from "Product-oriented" to "Client oriented"; and we seek cooperation on the products and service that can support client’s business development and add value to client’s business. Standard Bank set up a team in Beijing to work closely with ICBC head office, in order to explore the potentials of trade and investment among China, Africa and other emerging markets;
Moreover, ICBC has two teams in Johannesburg and Cape Town in South Africa that operate on ICBC-Standard Bank reciprocal business actively, to deepen the partnership. Besides those, Standard Bank has a dedicated Chinese Desk with experienced relationship managers in East Africa i.e. Kenya, Tanzania and Uganda.