Standard Bank Group to sell Argentinian investment
08 August 2019 - 08:52
Standard Bank Group, Africa’s biggest lender, says it will sell its 20% stake in an Argentinian financial services group and use the proceeds to build up its African operations.
While ICBC Argentina “has performed strongly” since Standard Bank sold its controlling stake in 2011, “Argentina remains off-strategy for the group as a geography and there is little overlap” with the lender’s main client bases, it said on Thursday...
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