Stanbic Bank Tanzania’s (SBT) FX operations experienced impressive growth, with FX revenue doubling year-over-year.
This success is largely attributed to the bank's strategic focus on deepening client relationships through a sector-specific approach, supported by an experienced client coverage team and specialized product experts from its global markets unit.
The evolution of SBT’s product offerings has been another contributing factor to its strong performance. Formerly focused on spot FX and money markets, the bank has been expanding its services to include sophisticated derivatives such as interest rate and commodity hedging, along with high-yield structured investment products, enabling clients to manage their financial risks more effectively. The bank has been able to expand its client base by attracting exporters and importers looking to manage their FX risks better.
The bank’s forward and swap book has grown as a result of this transformation, contributing 28% of its total FX revenues as of the end of the review period.
Technology