Standard Bank signs dual currency loan deal

Africa's biggest bank by assets, Standard Bank Group, said on Wednesday it had signed a $55 million and 70 million euro dual currency loan deal, which would be used for trade-related finance business. The South African bank said nine international banks from six countries, including France's BNP Paribas and Asia-focused Standard Chartered Bank, had participated in the deal, which was signed in Germany on October 30.
"The money will be used for general corporate purposes by the Standard Bank of South Africa Limited, including, but not limited to trade-related finance," it said in a statement.