Standard Bank Logo – Standard Bank is an international bank based in South Africa. Formerly in Argentina Standard Bank was Bank Boston until it was acquired in 2007. Standard Bank is currently in 39 countries. The financial group led by John Paterson created the “Standard Bank of British South Africa” in 1862. Operations began in 1863 in Port Elizabeth, South Africa, and shortly after his inauguration he joined with other relevant banks, including Commercial Bank of Port Elizabeth, the Colesberg Bank, British Bank and the Bank of Kaffrarian Fauresmith. Was prominent in financing and development of the Kimberley diamond fields in 1867.
The word “British” was dropped from the title of the name in 1883. When gold was discovered on the Witwatersrand, the bank extended to the north and 11 October 1886 began doing business in a tent at Ferreira’s Camp (later called Johannesburg, also founded in the same year) and becoming the first bank to open a branch in the Witwatersrand gold fields and the November 1, 1901 a second branch was opened in Eloff Street Johannesburg. Between 1890 and 1910 the bank opened offices across Africa, but some of them were unsustainable and had to be closed later.
In 1912 opened a branch in New York . By the mid-fifties, the Standard Bank had about 600 offices in Africa. In 1962 a bank called Standard Bank was registered as a South African company, a subsidiary of Standard Bank London Main. In 1965, Standard Bank merged with Bank of West Africa expanding its operations in Cameroon, Gambia, Ghana, Nigeria and Sierra Leone. This union in 1969 in turn merged with Bank of India , Australia and China (Chartered Bank), this association became known as “Standard Chartered Bank” and the “Standard Bank Group” was set to “Standard Bank Investment Corporation”- the holding company of “The Standard Bank of South Africa Limited.” Standard Chartered sold its 39% to the “Standard Bank Group” in 1987, transferring complete ownership of the holding company for investors in South Africa.
In 2006, Standard Bank bought BankBoston in Argentina expanding its operations in this country, becoming part owner of a financial city’s flagship, the building called First National Bank of Boston (in Florida at 99) founded in 1924. Before the transfer the bank belonged to the American BankBoston Fleet Bank NA, the U.S. bank was bought by one of the largest banks in the United States called Bank of America NA BankBoston Argentina being so happened to be part of Bank of America NA.
BankBoston, for a period not exceeding 2 years, changed its name to Bank of America, as the BankBoston name was imposed on the financial market and known by most people in a financial market in terms of different order marketing and marketing-to-market public-American customer, a matter of relative importance to the image of an American bank. After this transfer Bank of America NA decides to sell its retail customers’ BankBoston to Standard Bank.