Standard Chartered and the International Finance Corporation have joined forces to launch the first-ever issuance of credit-linked notes backed by loans to microfinance institutions (MFIs) in sub-Saharan Africa and South Asia.

Its strength in emerging markets makes it a serious player in FX.

Its strength in emerging markets makes it a serious player in FX.

“We’ve found that our clients want faster access to our liquidity, and the best way of doing that is through an API” - Tom Roche, Standard Chartered.

There is a rumour that Temasek would like to combine Standard Chartered with DBS in order to create a true, global, Singapore-headquartered powerhouse. It’s a great theory. But does it stand up?

Standard Chartered claims a unique focus on Asia, Africa and the Middle East. It’s a justified boast, particularly now that the bank is exploring linkages between these regions as well as expanding in individual countries.

In less than four years Istithmar, the investment arm of conglomerate Dubai World, has become one of the most influential private and public equity and real estate financiers in the world. Its blue-chip holdings include Time Warner, Standard Chartered Bank and large swathes of Manhattan real estate. Sudip Roy reports from Dubai on how the fund has risen to prominence so quickly.

Pushing beyond the boundaries

Botswana I Ethopia I The Gambia I Ghana I Kenya I Malawi I Mauritius I Namibia I Nigeria I Senegal I South Africa I Swaziland I Tanzania I Togo I Uganda I Zambia I Zimbabwe President Robert Mugabe’s policies continue to severely undermine the Zimbabwean economy. Having dramatically reduced export earnings through the destruction of viable agricultural production in a botched land redistribution programme, he turned his attention to urban areas last year with disastrous consequences: the homes and businesses of around 700,000 people – most of whom were political opponents – were destroyed.

Botswana I Ethopia I The Gambia I Ghana I Kenya I Malawi I Mauritius I Namibia I Nigeria I Senegal I South Africa I Swaziland I Tanzania I Togo I Uganda I Zambia I Zimbabwe The Tanzanian economy performed strongly in 2005 – real GDP growth was 6.8% – giving some hope to a population of more than 37 million with one of the world’s lowest per capita GDP figures at just $700 in 2005. Moreover, the government appears to be on the right track, with banking sector reforms steadily increasing investment in the sector and an internationally assisted regeneration programme established to rebuild the country’s shattered industrial infrastructure. The economy is expected to grow strongly in 2006 despite a severe drought earlier this year.

Botswana I Ethopia I The Gambia I Ghana I Kenya I Malawi I Mauritius I Namibia I Nigeria I Senegal I South Africa I Swaziland I Tanzania I Togo I Uganda I Zambia I Zimbabwe After four decades of uninterrupted civilian leadership, progressive social policies and significant capital investment, Botswana is one of the most dynamic economies in Africa and in 2005 attained a per capita GDP of more than $10,000 – making it a middle-income country – when GDP rose 4.5%. The strong economy has clearly benefited the country’s banks but necessarily some have benefited more than others.

Bank is making use of its wide geographical experience to build cross-border expertise.

Standard Chartered has gained management of the White Pine structured investment vehicle from JP Morgan Chase. The transfer, in addition to the Whistlejacket SIV, makes Standard one of the larger players. White Pine was established by Banc One by structured finance stalwart, Jim Irvine. Apparently an internal team led by Irvine also bid to take over management of the vehicle. This is a business where economies of scale matter. The size of White Pine is $8 billion while Whistlejacket has $6.5 billion. But Standard Chartered is still some way behind the largest SIV, Sigma, which has $30 billion under management.

Indonesia

Standard Chartered Bank has modernized and developed. Zimbabwe banks are on the rack. Nedcor wins one fight and Deutsche shows its class.

The virtual roundtable

This year, Euromoney's Awards for Excellence are broader in scope than ever before. A number of new categories have been introduced to reflect changes in the structure of international markets.