Gauteng Business 2016 edition

INTERVIEW
Private Banking
Prudence Dlamini provides a breakdown on
Standard Bank’s high-value Private Banking offering.
What is your division’s core value proposition?
In Private Banking our aim is to give our clients
personalised banking, and this means that each
client will have a Private Banker dedicated to you,
and a private transactional banker managing your
portfolio. A financial advisor
who assists clients with
wealth management will
offer them support.
What is Private Banking and who qualifies
for this service?
Private Banking is an exclusive offering for wealth
management solutions and it is targeted at affluent
clients as well as young professionals. To quality you
need to earn a minimum grossly monthly income of
R58 000 or more or have net investible assets of
over R3-million.
Who is the young professional that would
benefit from Private Banking?
The young professional is between the ages of 22
and 32, or in their final year of study, or working in
their first job, permanently employed or undergoing
on the job training. We’re looking at specific
qualifications, such as an actuary, a CA, medical
doctor, engineer or a lawyer. A young professional
doesn’t necessarily have to earn the qualifying salary,
as long as they have a qualification, although such
a professional would be likely to earn at that level
in the future.
What are the benefits
of Private Banking?
It’s convenience, time-saving
and a wealth of knowledge.
There is also access to your
own Private Banker, special Prudence Dlamini
lending rates, and a range of
specialised benefits and rewards programmes. As a
client I want to have a single person that I trust, who
will open me up to the best solutions and services
that I require.
What new developments has Private
Banking recently released?
We’ve just re-launched the value proposition for
young professionals as we want to recognise them
for their future potential not just their current income.
We’ve upgraded the status of our Professionals cards
to black to resonate more with this customer base.
We’re also offering better credit so that from a lending
perspective, in terms of personal loans, credit
card rates and car financing, we can offer our clients
a preferential guaranteed rate. This is, of course, in
line with their affordability, so everything is within
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