Top award for Standard Bank

MASERU – STANDARD Lesotho Bank scooped the highly coveted Bank of the Year Award 2019 at the awards dinner held last week in central London.
The award was presented by The Banker, a credible publisher of economic and financial intelligence and news on the world’s financial sector.
“We think that Standard Bank’s South African and Africa-wide network is unmatched in its breadth, depth and robustness – and we work hard to ensure that all our capabilities are at the service of our clients, 24/7, 365 days a year, on digital channels or in person,” said Thabiso Tšenki, the Standard Lesotho Bank’s Acting Chief Executive.

In its citation, The Banker noted that Standard Lesotho Bank has emerged as the country’s top bank, thanks to a recovery in profits, the financing of Lesotho’s nascent medicinal cannabis market, and programmes designed to support local entrepreneurs and small and medium-sized enterprises (SMEs).
After a difficult 2017 during which profits fell 23 percent, Standard Lesotho Bank’s bottomline stabilised in 2018, with a one percent rise in net profit.
The bank’s asset base grew by seven percent in 2018.

The Bank’s Corporate and Investment Banking also became the first financial services provider to offer solutions for the country’s nascent medicinal cannabis industry, providing a M11 million ($740,000) loan facility to MG Health (formerly Medigrow) for the establishment of a state-of-the-art laboratory for testing and the quality control of medicinal cannabis.
“Our success is a result of careful planning on the back of the upgraded core banking system,” said Tšenki, adding: “We are now positioned to become the ‘bank of the future.”

Tšenki added that the award is a direct result of the commitment, dedication and service beyond the call of duty that is in the DNA of every employee at the Bank.
He concluded by congratulating the Standard Lesotho Bank team for the great achievement and thanked the many clients of the bank for remaining loyal to it over the years.
Meanwhile, the Ministry of Health received medical equipment worth M600 000 from Standard Bank Lesotho last week.
The bank gave the ministry 30 examination couches that are going to be distributed to 30 different health posts in the rural areas.
The couches are used when examining patients.

The Standard Bank spokesperson Manyathela Kheleli said this is the first batch of equipment to be donated by the bank and more will be provided next year.
“We assisted the ministry because we heard that they are facing shortages of medical equipment,” he said.
Kheleli said the donation was part of the bank’s mission to plough back into society.

The Ministry of Health Director General (DG), Dr ’Nyane Letsie, praised the bank for positively responding to the government’s call for assistance in the health sector.
She said the examination couches will greatly benefit Basotho, especially those in the rural areas and pregnant women and babies.
Dr ’Nyane said pregnant women can now be examined at nearby health posts and go to the clinic when they are about to give birth.

The equipment will be distributed to Butha-Buthe, Quthing, Mokhotlong, Thaba-tseka and Qacha’s Nek health posts.
The Ministry of Health’s principal secretary ,Thebe Mokoatle, said the donation proved that the bank is dedicated to changing Basotho lives for the better.
The items bought by the ministry include 3 000 kidney dishes, 100 examination couches, 200 cardiac tables, 100 wheel chairs, 200 blood pressure machines on a stand and orthopedic equipment.

Staff Reporter