Customer base for any company is one of the most important aspects of business growth. Standard Bank however is focusing on revenue, now that, according to Bloomberg TV Africa, shares have experienced the highest gains in six years.
The number of customers aren’t the target in 2015, because a few of the bank’s customer segments are not yet profitable. Speaking on investment, cost management and the affects of low oil prices, Sim Tshabalala, Standard Bank Joint CEO said staying on top is no easy feat.
“Competition in South Africa is fierce. We’ve got some really really good competitors in South Africa. The big four are forces to be reckoned with, but there’s also new entrants,” he said. “There are also entrants who are outside the banking system, which are providing payment and other services to our clients.”