Standard Bank consolidates results in 2004
Standard Bank
consolidates results in 2004
Standard Bank Namibia has said 2004 saw the bank
consolidating a number of initiatives.During the year ended 31 December 2004,
headline earnings increased by 10.4% and earning went up by 8.9% per
share.Managing director Theofelus Mberirua said the bank’s Best Bank Enhancement
Project was implemented in the year giving the Namibian branches a similar
branch layout like Standard Bank branches in Africa.Further, the ongoing
national payment reforms saw the formalisation of the shared services company
Namclear. Standard Bank as well as three other banks in Namibia each acquired a
25% stake.Mberirua said a dedicated risk and compliance management function was
established in 2004 as part of the banks anti-money-laundering initiatives.?In
as far as our human resources are concerned, we remain committed to a fair,
equitable and transparent human resources policy, focusing on the development of
human potential through on-the-job and internal and external training courses,?
said Mberirua.Approximately 994 employees each received 100 shares in October
2004 as part of the Standard Bank Group staff share incentive scheme.?The
group’s objective is to promote an inclusive equitable and diversity-friendly
working environment where share ownership by all employees,? said the managing
director. In November 2001, the bank implemented its HIV/Aids policy programme
under which various successful HIV/Aids training sessions have been conducted in
branches and departments.