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29 July 2008
Standard Bank has opened a full-service branch in Lubumbashi in a bid to expand its presence in the heart of the Democratic Republic of Congo's (DRC) mining region.
Most international banks have tended to use local banks in the DRC and other African countries as their representatives but some, like Standard Bank, are moving away from this approach in a bid to gain more direct access to clients.
Africa's biggest bank by assets, Standard Bank, said on Tuesday it had opened a full-service branch in Lubumbashi in a bid to expand its presence in the heart of the Democratic Republic of Congo's (DRC) mining region.
"The opening of the Lubumbashi branch marks a significant milestone in our presence in the DRC and our commitment to contributing to the development of the country," Clive Tasker, chief executive of Standard Bank Africa, said in a statement.
"The branch provides major benefits for the multi-national mining houses, which operate from Lubumbashi," he said.
Most international banks have tended to use local banks in the DRC and other African countries as their representatives but some, like Standard Bank, are moving away from this approach in a bid to gain more direct access to clients.
Standard Bank, which offers banking and investment services, already has operations in 17 African countries
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