RL
Ryan L

1 reviews | Active since Feb 2016

30 Apr 2025, 16:21

Standard Bank - where internal ethics are optional

As a real estate agent operating in the luxury property bracket in the Upper Highway of KZN I will never recommend a Standard Bank home loan to any of my purchasers going forward. I am of the opinion that their homeloan division operates outside of ethical boundaries as evidenced by the apparently suspicious approval of a recenr bond application by an employee by the name of Nazreen Ebrahim falling under the leadership of Raayen Reddy. Standard bank's homeloan department declined my purchaser's bond application as submitted via his apppointed external bond originator and then, mysteriously, the clients private banker after seemingly withholding info pertinent to the bond approval from the bond originator then personally, and all within the same 2 week time-frame opens up a new bond application, supplying the home loan department and Nazreen specifically with the info only she has and which she knows is required for approval, and magically has the bond approved under her name, thereby highjacking the entire process and simultaneously undermining my efforts as the estate agent as well as the efforts of the bond originator in question, who she has effectively ****** of his commission. Standard bank knows all of this, and still chooses to do nothing. Clearly the adage, "all that evil needs to thrive in this world is for the good man to do nothing" still applies, though I would not go as far as to say that Standard Bank's character as a corporate entity as portrayed in this case could in any way be construed as "good"

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Replies (3)
RL
Ryan L's update30 Apr 2025, 16:28
Reviewer Update
After escalating this matter to Joseph of the Standard Bank complaints division and after having him talk over me and fail to listen to me, it seems the outcome is this: that they are in support of their private bankers sabotaging deals by withholding pertinent info from a client's chosen bond originator only to supply the banks homeloan department with the info internally as this means that standard bank saves money by then not having to honor their agreement with the bond originator and subsequently not having to pay him any commission for his efforts. wow
RL
Ryan L's update30 Apr 2025, 16:29
Reviewer Update
I will be moving my private and business banking over to ABSA shortly, who I trust deal more ethically with all, even those who they have the power to steamroll
Standard Bank
Standard Bank's reply30 Apr 2025, 16:30
Official
Dear Ryan, 

Thank you for bringing this issue to our attention. 

As Standard Bank, we are committed to providing you with the best possible service and will ensure that this issue is taken care of. 

We sincerely apologise for any inconvenience or unwarranted frustration this has given you. 

Kindest regards, 
Standard Bank Hello Peter Team 
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