Standard Bank of South Africa Limited and Barclays
SBK
Standard Bank Group Limited - The Standard Bank of South Africa Limited
and Barclays Bank plc
STANDARD BANK GROUP LIMITED
Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
Share code: SBK
Namibian Share Code: SNB
ISIN: ZAE000038873
("Standard Bank Group")
The Standard Bank of South Africa Limited ("Standard Bank") and Barclays Bank
plc ("Barclays")
Barclays and Standard Bank announced today that an alliance has been formed to
sell and distribute Barclaycards in South Africa through a new division of
Standard Bank, creating a new player in the South African credit card market.
The new division will be jointly funded and all profits and losses will be
shared equally by the two parties. Barclays will be responsible for sales, while
card issuance, PIN collection and payments will be handled by Standard Bank"s
outlets. The division today launches "The Manchester United Barclaycard" as the
first of four new credit card products to be introduced within the next six
months. The alliance brings to Standard Bank additional processing scale, which
will improve cost efficiency, together with the opportunity for future
technology and knowledge sharing in card products with a global banking group of
the calibre of Barclays.
For further information please contact Kim Howard at Standard Bank Group
Investor Relations on (+27) (11) 636-7811.
Date: 11/08/2003 08:00:03 AM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
