By Jackson Okoth in South Africa

CFC Stanbic bank intends to roll out a full scale-banking suite once its new platform is completed.

Standard Bank CEO Clive Tasker made the revelation during the 3rd Annual Standard Bank Africa media forum organised by the bank at its headquarters in Johannesburg South Africa.

"We have been trying to integrate the two platforms since the merger between CFC and Stanbic. We shall roll out to the retail segment as soon as this process is complete," Tasker told The Standard.

Its entry into the low-end segment of the banking business in Kenya is set to increase competition in this area, considered one of the fastest growing and most competitive.

Standard Bank Africa, which trades in Kenya as CFC Stanbic, will be riding on its large financial muscle and aggressive advertising campaign, to increase its penetration.

The bank has launched a new global and local advertising campaign, which begins today in more than 25 countries.

" We are focused in growing our business in Africa, building robust acquisitions in other selected markets and proactively and vigorously managing risks and costs," the group’s Jacko Maree told a group of visiting journalists.

Among the most significant transactions within the bank inn recent months has been a recent acquisition of 20 per cent of stake in it by Industrial and Commercial Bank of China, considered the largest bank in the world.

Operating within emerging markets, Standard Bank’s mainstay has been in the corporate segment, thus this model effectively shielding it from a decline in personal banking business due to global recession.

" We are focused on emerging markets and have therefore not been exposed to toxic subprime assets," said Maree.

Its footprint in emerging markets includes recent acquisitions in Nigeria, Kenya, Argentina and Turkey. Its transaction in Russia is still subject to regulatory approvals.