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South African financial service provider Standard Bank has been accoladed with a silver award in the global and prestigious SME Bank Awards category of SME Bank of the Year for 2020.
Standard Bank has received global recognition for its efforts in assisting SME clients in SA
As the only South African financial service provider chosen as a nominee for the renowned awards, Standard Bank has received recognition for its efforts in supporting local SMEs during the Covid-19 pandemic. After securing second place in the award category it is awarded to financial institutions that have proven and demonstrated compassion and support for SME clients that were severely impacted by the economic devastation of the pandemic.
Simone Cooper, Head of Business Clients South Africa at Standard Bank comments on the global accolade.
“It is both an honour and a privilege to be recognised on an international stage for the relief efforts and key initiatives that we, as Standard Bank South Africa, implemented to help businesses cope financially and to continue to operate under the ‘new normal’.”
Other global financial service providers that were nominated in the SME Bank of the Year category include Swedbank, Allianz Bank, and Barclays.
Facilitated by Efma and Mastercard the awards conducted rigorous analyses of banks across the globe on what each institution was doing to transform SME banking and support its clients during the pandemic.
With a mammoth of challenged faced since the start of the global pandemic, notably, Standard Bank was the first financial service provider in the country to provide financial relief measures for small businesses. This initiative has allowed SMEs to manage their financial commitments and pay their staff. In addition, Standard Bank developed digital solutions that could assist local businesses.
“This award demonstrates Standard Bank’s unwavering commitment to finding new ways to keep South African businesses going during this critical time. It is highly encouraging to the individuals and teams that have worked tirelessly throughout this difficult time to ensure that businesses who employ the people of South Africa can survive and contribute to the growth and recovery of our economy,” Cooper concludes.
Featured image: Tim Mossholder via Unsplash