Standard Bank sold a 20% stake in ICBCA for $181m.

Standard Bank, a South African financial services group, sold a 20% stake in ICBC Argentina to ICBC, a Chinese multinational banking company, for $181m. With the transition of control of ICBCA to ICBC an unqualified success, Standard Bank Group considers that an exit from its investment in ICBCA to realise capital for reinvestment into its African strategy is appropriate.