Standard Bank on Thursday opened its first new, full service branch in Alexandra township, north of Johannesburg.
Residents of the 93-year-old township, which covers an area of over 800ha with an estimated population of 350 000 inhabitants, had to travel to nearby Sandton and Bramley for their full banking services or rely on a few automated teller machines (ATMs).
In 2003 Standard Bank and other financial institutions signed the Financial Sector Charter committing to, among other areas, to help make financial services accessible and affordable to all South Africans.
Says Lincoln Mali, Standard Bank’s Gauteng provincial director: “Part of the bank’s long-standing strategy is to spread financial services to all corners of our country and provide affordable products that meet the needs of all our customers.
“This new development is also our way of re-enforcing the commitment we made when we signed the charter that we will, among other things, help the ordinary people gain access to financial services. This is also a consolidation of our ongoing efforts to provide appropriate services and products to both existing and prospective customers living in previously under-serviced areas.” ‒ I-Net Bridge