Standard Bank group has signed a business cooperation agreement with South Korea’s Woori Bank to increase banking business from Korean companies operating and investing in Africa. The agreement was signed by Standard Bank’s global head of financial institutions Robert Cleasby and Woori Bank deputy president Dong Gun Lee in Seoul. Woori Bank has no presence in Africa and, therefore, a partnership with a strong African bank like Standard Bank will enable it to extend its banking relationship with key Korean clients to its non-presence countries, said Cleasby. Stanbic Bank is part The Standard Bank group whose footprint stretches across 19 countries.
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