25 June 2004
	SA's Top 20 Companies 18 STANDARD BANK Total score: 53,6 Historic score: 25 FM's score: 73

Five years ago, Standard Bank was the laggard of the financial sector. What a change there has been, spurred by the failed hostile bid by Nedcor in 1999. Investors who bought at its 1998 low will have quadrupled their money. The bank has been eating up market share to solidify its position as SA's largest bank in terms of assets - a position it briefly lost after the Nedcor-BoE merger in 2002. CEO Jacko Maree has found wide support for his leadership of the industry side of the negotiations towards the financial sector empowerment charter. The bank is also firming its relationship with its 29,6%-held Liberty insurance group, where Standard stalwart Myles Ruck is tightening up the ship. A long-awaited merger between the two groups is looking more likely.