Standard Bank. Picture: FINANCIAL MAIL
Standard Bank. Picture: FINANCIAL MAIL

Nolwandle Mthombeni from Mergence Investment Mangers chose Standard Bank as her stock pick of the day.

"If you look at our banking sector, it's one of the best in the world. We have a strong … banking sector and we just saw news about Deutsche Bank having to cut about 18,000 staff and also getting rid of one of the equities trading divisions since they've really come under pressure during the global financial crisis.

“[SA has] got great businesses in terms of the financial sector — high ROEs, some of the best in the class of ROEs, and I'm always looking for an opportunity to get into the sector, especially in Standard Bank, as it has been in a pullback in the last couple of weeks.

“Its an opportunity to get back in there and that's why Standard Bank is one of my picks.”

Nolwandle Mthombeni from Mergence chose Standard Bank as her stock pick of the day