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Standard Bank Eyes Guaranty Trust

Standard Bank Group is weighing acquisition of a stake in Nigeria’s Guaranty Trust Bank.

Standard Bank Group is weighing acquisition of a stake in Nigeria’s Guaranty Trust Bank, Bloomberg reports. Among the country’s four biggest banks, Guaranty is the most profitable.

The Johannesburg-based bank is looking to stimulate profitability of its Africa operations after dropping expansion plans in Russia and Argentina. It will have approximately $1 billion in surplus capital during 2012 after shedding its Russian undertaking and selling stakes in its Argentine units.

Click here for the story from Bloomberg.

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