Africa’s Largest Bank Open to Acquisitions in Nigeria, Kenya (1)

Standard Bank Group Ltd. is open to acquisitions in Nigeria and Kenya as Africa’s biggest lender by assets expands its presence in key markets on the continent.

The lender is also keen to bolster its businesses in Ethiopia -- where it has a representative office -- and its home-market South Africa, Standard Bank Chief Executive Officer Sim Tshabalala said. In Nigeria and Kenya, “if there was an appropriate priced asset with acceptable risk, we would definitely look at acquiring,” he said. Standard Bank paid $400 million to take control of its Nigerian unit in 2007.

Expanding in the continent’s biggest ...