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Cfc Stanbic Bank rebands to Stanbic Bank

by: Category: Banking & Finance, East Africa A+ / A-

CfC Stanbic Bank, a subsidiary of Standard Bank Group, will now be known as Stanbic Bank in Kenya following the completion of a rebranding process which began early this year.

CfC Stanbic Holdings Limited will also become Stanbic Holdings Plc, according to a statement from the bank released Monday.

CfC Bank merged with Stanbic Bank in 2008 to form CfC Stanbic bank after Standard bank Group of South Africa acquired majority stake in CfC Bank.

Also read CfC Stanbic bank unveils Yuan currency to boost Kenya-China trade

Stanbic Bank Chief Executive Phillip Odera said the bank’s rebranding follows the Group’s decision to align its operational synergies across its markets.

“This is another affirmation of our commitment to the people of Kenya. Innovation underpins our financial inclusion agenda, and it is innovation, partnerships and access to capital that we leverage to ensure we help deliver an enhanced customer experience.” he said

During the first half of 2016 the bank posted a 27 per cent increase in  profit before tax to Sh3.64 billion, up from Sh2.86 billion in a similar  period last year.

Stanbic Bank has 25 branches and over 40 ATMs in Kenya and is currently in operation in 20 countries on the continent.

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