Standard Bank is not a bank for SME's

Standard Bank are trying to convince SME's they are the bank to joint. As a business customer of 30 years and loyal to the bank, I have finally realised that they have no interest or clue about SME's. I have recently closed 6 of my business bank accounts with them. 30 Years of business, where they have profited handsomely, over 50 asset leases, a property purchase, numerous other services, which were good for a number of years and the bank did received all its money and had no losses, I was forced to close as I tried to negotiate a facility for the purchase of a property. I would be surprised if their credit vetting staff are qualified, they do not know how to read a balance sheet and have no clue how the SME's have to operate with all the rampant compliance issues they have to deal with.

I am also not surprised they are being slaughtered in the press for security breaches and theft of money. My own experience was a huge breach of their data which I duly reported and found them to be ambivalent and extremely disinterested in the breach. It cost me in time and effort protecting myself from the breach but also trying to engage with them. Unfortunately my efforts to help them were not reciprocated and eventially forced me to change my banking partner.

I do not recommend Standard Bank for any SME looking for a banking partner. You will get better understanding and support from other banks for an SME business.